Core Viewpoint - 60 Degrees Pharmaceuticals, Inc. announced a 1-for-5 reverse stock split to comply with Nasdaq's minimum bid price requirement of $1.00 for maintaining its listing [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will convert five current shares into one new share, effective February 24, 2025 [1][4]. - The new CUSIP number for the Common Stock post-split will be 83006G401 [1]. - No fractional shares will be issued; all fractions will be rounded up to the next whole share [5]. Group 2: Compliance and Approval - The reverse stock split was approved by stockholders on November 6, 2024, with the Board of Directors authorized to determine the exact ratio [3]. - The Board approved the 1-for-5 ratio on February 10, 2025, and filed the necessary amendment on February 18, 2025 [3]. Group 3: Company Overview - 60 Degrees Pharmaceuticals, Inc. focuses on developing new medicines for infectious diseases and achieved FDA approval for its lead product, ARAKODA® (tafenoquine), in 2018 [7]. - 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 [7].
60 Degrees Pharmaceuticals, Inc. Announces 1:5 Reverse Stock Split