60 Degrees Pharmaceuticals raises $1M in private placement

60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP, SXTPW) has entered into definitive agreements for a private placement expected to raise approximately $1.0 million in gross proceeds, before placement agent fees and other expenses.

The Washington, D.C.-based pharmaceutical company agreed to issue 574,713 shares of common stock, or pre-funded warrants in lieu thereof, along with series A warrants and short-term series B warrants, each to purchase up to 574,713 shares of common stock. The purchase price is $1.74 per share or pre-funded warrant.

Both warrant series carry an exercise price of $1.49 per share and are exercisable upon issuance. The series A warrants expire five years from the effective date of the resale registration statement, while the series B warrants expire after twenty-four months.

The closing is expected to occur on or about July 31, 2026, subject to customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The company said it intends to use net proceeds for working capital and general corporate purposes. The securities are being offered under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under federal or state securities laws. The company has agreed to file a resale registration statement covering the securities.

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