60 Degrees Pharmaceuticals Announces Closing of up to $10 Million Public Offering

Core Viewpoint - 60 Degrees Pharmaceuticals, Inc. has successfully closed a public offering of 2,631,578 shares of common stock at a price of $1.90 per share, raising total gross proceeds of $5 million, which will be used for working capital and general corporate purposes [1][3]. Group 1: Offering Details - The public offering included Series A-1 warrants and short-term Series A-2 warrants, both with an exercise price of $1.90 per share [2]. - The Series A-1 warrants are exercisable upon issuance and expire five years thereafter, while the Series A-2 warrants expire in 18 months [2]. - The potential additional gross proceeds from the Series A-2 warrants, if fully exercised, could amount to approximately $5 million [3]. Group 2: Company Background - 60 Degrees Pharmaceuticals, Inc. specializes in developing new medicines for infectious diseases and achieved FDA approval for its lead product, ARAKODA® (tafenoquine), 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 institutional investors [6]. - The company is headquartered in Washington D.C. and has a majority-owned subsidiary in Australia [6].