60 Degrees Pharmaceuticals(US:SXTP) Globenewswire·2025-01-30 19:20Core Viewpoint - 60 Degrees Pharmaceuticals, Inc. has successfully closed a registered direct offering, raising approximately $1.043 million through the sale 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 [1][2]. Group 1: Offering Details - The registered direct offering involved the sale of 1,021,549 shares of common stock at a price of $1.021 per share [1]. - In addition to the common stock offering, the company issued unregistered short-term warrants to purchase up to 2,043,098 shares of common stock at an exercise price of $0.771 per share [1]. - The gross proceeds from the offering were approximately $1.043 million, before deducting fees and expenses [2]. Group 2: Use of Proceeds - The company intends to use the net proceeds from the offering for working capital and other general corporate purposes [2]. Group 3: Regulatory Compliance - The shares of common stock were offered under a "shelf" registration statement filed with the SEC, which became effective on July 18, 2024 [3]. - The short-term warrants were issued in a private placement and have not been registered under the Securities Act, limiting their sale in the U.S. [4]. Group 4: Company Background - 60 Degrees Pharmaceuticals, Inc. specializes in developing new medicines for infectious diseases and achieved FDA approval for its lead product, ARAKODA® (tafenoquine), for malaria prevention in 2018 [6]. - The company collaborates with prominent research organizations in the U.S., Australia, and Singapore, and has received support from the U.S. Department of Defense and private investors [6].