60 Degrees Pharmaceuticals secures agreement for exercise of warrants covering 584,492 shares
SXTP•60 Degrees Pharmaceuticals entered agreements for the cash exercise of warrants covering 584,492 shares at $0.90 each, expecting gross proceeds of $526,042.80. Holders will also receive new warrants covering 1,168,984 shares, subject to stockholder approval for issuance of the underlying shares.
1. Warrant exercise agreements
60 Degrees Pharmaceuticals entered agreements on November 5, 2026, for the cash exercise of existing warrants covering 584,492 shares at a reduced price of $0.90 per share. The company expects the agreements to close on November 9, with gross proceeds of $526,042.80; net proceeds will go toward working capital and general corporate purposes.
2. New warrants issued
The holders will receive new unregistered warrants covering 1,168,984 shares, equal to 200% of the shares issued through the existing warrant exercises. The new warrants have a $0.90 exercise price, and exercise requires stockholder approval of the underlying share issuance. They expire after the later of stockholder approval or the effectiveness of a resale registration statement: five years for warrants covering 560,912 shares and 24 months for those covering 608,072 shares.
