60 Degrees prices 1.5M shares at 71.5c in registered direct offering

60 Degrees Pharmaceuticals (SXTP) has entered into definitive agreements for the purchase and sale of an aggregate of 1,503,500 shares of its common stock at a purchase price of 71.5c per share in a registered direct offering priced at-the-market under Nasdaq rules. In addition, in a concurrent private placement, the Company will issue unregistered short-term warrants to purchase up to an aggregate of 1,503,500 shares of common stock. The short-term warrants will have an exercise price of 59c per share, will be exercisable upon issuance and expire twenty-four months following the date of issuance. The closing of the offering is expected to occur on or about February 6, 2025, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The aggregate gross proceeds to the Company from the offering are expected to be $1.075M, before deducting the placement agent fees and other offering expenses payable by the Company. The Company currently intends to use the net proceeds from the offering for working capital and other general corporate purposes.