60 Degrees Pharma Announces $1.043 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

Core Viewpoint - 60 Degrees Pharmaceuticals, Inc. has announced a registered direct offering of 1,021,549 shares of common stock at a price of $1.021 per share, along with a concurrent private placement of short-term warrants to purchase up to 2,043,098 shares at an exercise price of $0.771 per share [1][2]. Group 1: Offering Details - The total gross proceeds from the offering are expected to be approximately $1.043 million before deducting fees and expenses [2]. - The closing of the offering is anticipated to occur on or about January 30, 2025, pending customary closing conditions [1]. - The shares are being offered under a "shelf" registration statement that became effective on July 18, 2024 [3]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for working capital and other general corporate purposes [2]. Group 3: Company Background - 60 Degrees Pharmaceuticals, Inc. specializes in developing new medicines for infectious diseases and received FDA approval for its lead product, ARAKODA® (tafenoquine), in 2018 [6]. - The company collaborates with research organizations in the U.S., Australia, and Singapore and has received support from the U.S. Department of Defense and private investors [6].