60 DEGREES PHARMACEUTICALS INC
For the period ended Mar 31, 2024. Filed May 15, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
(A) Unregistered Sales of Equity Securities
None.
(B) Use of Proceeds
The Registration Statement for our IPO was declared effective by the SEC on July 11, 2023. The IPO consisted of 1,415,095 units, with each unit consisting of (i) one share of our common stock, (ii) one tradeable warrant having the right to purchase one share of our common stock at an exercise price of $6.095 per share and (iii) one non-tradeable warrant having the right to purchase one share of our common stock at an exercise price of $6.36 per share, at a public offering price of $5.30 per unit. On July 14, 2023, the IPO closed, and we received approximately $6,454,300 in net proceeds from the IPO after deducting the underwriting discount and commission and other estimated IPO expenses payable by us.
There has been no material change in the planned use of proceeds from such use as described in the Registration Statement.
As of March 31, 2024, we have utilized approximately $5,870,000 of the net proceeds as follows:
| ● | $3,162,000 for working capital and general corporate purposes; |
| ● | $1,783,000 for debt repayment; and |
| ● | $925,000 research and development (clinical trials and related activities). |
(C) Issuer Purchases of Equity Securities
None.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.