MANGOCEUTICALS INC
Filed Apr 23, 2024.
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A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Apr 23, 2024
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As filed with the Securities and Exchange Commission on April 23, 2024
Registration No. 333-[ ]
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORMS-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
(Exact Name of Registrant as Specified in Its Charter)
| Texas | 8099 | 87-3841292 |
|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (Primary Standard Industrial Classification Code Number) | (I.R.S. Employer Identification Number) |
15110 N. Dallas Parkway, Suite 600
Dallas, Texas 75248
(214) 242-9619
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive office)
Jacob D. Cohen
Chief Executive Officer
15110 N. Dallas Parkway, Suite 600
Dallas, Texas 75248
(214) 242-9619
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies to:
Joseph M. Lucosky, Esq.
Steven Lipstein, Esq.
Lucosky Brookman LLP
101 Wood Avenue South, 5th Floor
Woodbridge, NJ 08830
(732) 395-4400
Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this registration statement.
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☒
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ☐ | Accelerated filer ☐ |
|---|---|
| Non-accelerated filer ☒ | Smaller reporting company ☒ |
| Emerging growth company ☒ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.☐
The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the Commission, acting pursuant to such Section 8(a), may determine.
The information in this preliminary prospectus is not complete and may be changed. These securities may not be sold until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and we are not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.
| PROSPECTUS | SUBJECT TO COMPLETION, DATED APRIL 23, 2024 |
|---|
30,014,286 Shares of Common Stock
The selling stockholders named in this prospectus may offer and sell, from time to time, in one or more offerings, up to an aggregate of 30,014,286 shares of our common stock, par value $0.0001 per share consisting of (i) one million (1,000,000) shares issued as a commitment fee in connection with the Company and the selling stockholder’s entrance into the ELOC (as defined on page 18 and described in the section entitled “Recent Events”); (ii) ten million (10,000,000) shares issuable under the ELOC using an adjusted price of $0.26 for the per share purchase price (based on a $2.6 million total purchase price divided by the average closing price of the common stock on the Nasdaq Capital Market for the three trading days ending on April 19, 2024 ($0.29) minus a ten percent (10%) discount for the purchase price of $0.26), (iii) three million three hundred thousand (3,300,000) shares issuable upon exercise of warrants issued at an exercise price of $0.26 per share (the “Warrants”), and (iv) 15,714,286 shares issuable upon conversion of 500 shares of Series B Convertible Preferred Stock (the “Series B Preferred Stock”) with each share having a stated value of $1,100 and having an assumed conversion price of the floor price of $0.035 per share. Pursuant to the Securities Purchase Agreement (“SPA”) entered into, the sale of the Series B Preferred Stock and Warrants is to take place over up to three closings as indicated in the agreement. The registration statement of which prospectus forms a part only registers the shares of common stock underlying the initial closing of 500 shares of Series B Preferred Stock. The Company has reserved from its duly authorized capital stock 50,000,000 of shares of Common Stock issuable upon exercise of the Warrants and conversion of the Series B Preferred Stock.
We will receive proceeds from any sale of shares of common stock pursuant to the ELOC and from any exercise of the Warrants, however, there is no guarantee that any shares will be sold or any of the Warrants will be exercised. The shares of our common stock may be sold publicly or through private transactions by the selling stockholders at prevailing market prices or at negotiated prices at the times of sale. The shares of common stock may be offered by the selling stockholders to or through underwriters, dealers or other agents, directly to investors or through any other manner permitted by law, on a continued or delayed basis. We provide more information about how the selling stockholders may sell or otherwise dispose of the shares of common stock in the section entitled “Plan of Distribution” beginning on page 128 of this prospectus.
We are not selling any shares of common stock in this offering, and we will not receive any proceeds from the sale of shares by the selling stockholders. The registration of the securities covered by this prospectus does not necessarily mean that any of these securities will be offered or sold by the selling stockholders. The timing and amount of any sale is within the respective selling stockholders’ sole discretion, subject to certain restrictions. To the extent that any selling stockholder resells any securities, the selling stockholder may be required to provide you with this prospectus identifying and containing specific information about the selling stockholder and the terms of the securities being offered.
Shares of our common stock are listed on the Nasdaq Capital Market (“Nasdaq”) under the symbol “MGRX”. On April 22, 2024, the last sale price per share of our common stock as reported on Nasdaq was $0.2775.
We are an “emerging growth company” as defined in the federal securities laws and, as a result, have elected to comply with certain reduced public company disclosure and reporting requirements.
Investing in our common stock involves risks that are described in the “Risk Factors” section in any other annual, periodic or current report.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus is , 2024
TABLE OF CONTENTS
| Page | |
|---|---|
| ABOUT THIS PROSPECTUS | ii |
| CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS | iii |
| PROSPECTUS Summary | 1 |
| RISK FACTORS | 24 |
| UsE of PROCEEDS | 59 |
| DIVIDEND POLICY | 59 |
| MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION RESULTS OF OPERATIONS | 59 |
| BUSINESS | 68 |
| DETERMINATION OF OFFERING PRICE | 88 |
| MARKET PRICE OF COMMON STOCK AND RELATED STOCKHOLDER MATTERS | 88 |
| Security Ownership of Certain Beneficial Owners and Management | 89 |
| MANAGEMENT | 91 |
| EXECUTIVE AND DIRECTOR COMPENSATION | 101 |
| Certain Relationships and Related Party Transactions | 116 |
| SELLING STOCKHOLDERS | 121 |
| Description of Capital Stock | 122 |
| MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES FOR NON-U.S. HOLDERS OF COMMON STOCK | 127 |
| PLAN OF DISTRIBUTION | 128 |
| Legal Matters | 130 |
| Experts | 130 |
| Where You Can Find More Information | 130 |
| INDEX TO FINANCIAL STATEMENTS | F-1 |
i
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.