60 Degrees Pharmaceuticals Announces Closing of Initial Public Offering
14 Luglio 2023 - 6:39PM
60 Degrees Pharmaceuticals, Inc., (NASDAQ: SXTP; SXTPW) (“60P” or
the “Company”), specialists in developing and marketing medicines
for infectious diseases, announced today the closing of its initial
public offering of 1,415,095 units (each, a “Unit,” collectively,
the “Units”) at a price of $5.30 per Unit for a total of
approximately $7.5 million of gross proceeds to the Company, prior
to deducting underwriting discounts, commissions and offering
expenses. Each Unit is comprised of one share of the Company’s
common stock, one tradeable warrant (each, a “Tradeable Warrant,”
collectively, the “Tradeable Warrants”) to purchase one share of
common stock at an exercise price of $6.095 per share, and one
non-tradeable warrant (each, a “Non-tradeable Warrant,”
collectively, the “Non-tradeable Warrants”; together with the
Tradeable Warrants, the “Warrants”) to purchase one share of the
Company’s common stock at an exercise price of $6.36.
The shares and Tradeable Warrants began trading on the Nasdaq
Capital Market on July 12, 2023, under the symbols “SXTP” and
“SXTPW,” respectively.
The Company granted the underwriters an option, exercisable
within 45 days after July 12, 2023, to purchase shares of the
Company’s common stock at a price of $5.28 per share, and/or
Tradeable Warrants at a price of $0.01 per Tradeable Warrant and/or
Non-tradeable Warrants at $0.01 per Non-tradeable Warrant, or any
combination of additional shares of common stock and Warrants
representing, in the aggregate, up to 15% of the number of Units
sold in the offering, in all cases less the underwriting
discount.
WallachBeth Capital LLC acted as the Sole Bookrunner for the
offering.
The offering was made only by means of a prospectus. A copy of
the final prospectus related to the offering may be obtained from
WallachBeth Capital LLC, via email: cap-mkts@wallachbeth.com, or by
calling +1 (646) 237-8585, or by standard mail at WallachBeth
Capital LLC, Attn: Capital Markets, 185 Hudson St., Suite 1410,
Jersey City, NJ 07311, USA. In addition, a copy of the final
prospectus relating to the offering may be obtained via the
Securities and Exchange Commission’s (“SEC”) website at
www.sec.gov.
A registration statement on Form S-1, as amended (File No.
333-269483), relating to these securities was filed with the SEC
and was declared effective on July 11, 2023. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About 60 Degrees Pharmaceuticals, Inc.
60 Degrees Pharmaceuticals, Inc., founded in 2010, specializes
in developing and marketing new medicines for the treatment and
prevention of infectious diseases that affect the lives of millions
of people. 60P successfully achieved FDA approval of its lead
product, ARAKODA®
(tafenoquine), for malaria prevention, in 2018.
60P also collaborates with prominent research organizations in the
U.S., Australia and Singapore. 60P’s mission has been supported
through in-kind funding from the United States Department of
Defense and private investment from Knight Therapeutics Inc., a
Canadian-based pan-American specialty pharmaceutical company. 60P
is headquartered in Washington D.C., with a majority-owned
subsidiary in Australia. Learn more at www.60degreespharma.com.
Forward-Looking Statements
The statements contained herein may include prospects,
statements of future expectations and other forward-looking
statements that are based on management’s current views and
assumptions and involve known and unknown risks and uncertainties.
Actual results, performance or events may differ materially from
those expressed or implied in such forward-looking statements.
Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict
all of them. The statements expressed herein are those only of
60P.
Forward-looking terminology, such as “may,” “will,” “should,”
“expect,” “anticipate,” “project,” “estimate,” “intend,” “continue”
or “believe” or the negatives thereof, or other variations thereon
or comparable terminology, may discuss our plans, strategies,
prospects and expectations concerning our business, operating
results, financial condition and other similar matters. However, we
are not able to predict accurately or control these matters. Any
forward-looking statement made by us in this press release speaks
only as of the date on which we make it. We undertake no obligation
to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
Media Contact:Sheila A. BurkeMethod Health
Communicationsmethodhealthcomms@gmail.com(484) 667-6330
Investor Contact:Patrick
Gaynespatrickgaynes@60degreespharma.com(310) 989-5666
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