other material
confidence high
sentiment neutral
materiality 0.60
60 Degrees Pharmaceuticals raises ~$4M in private placement of common stock equivalents and warrants
60 DEGREES PHARMACEUTICALS, INC.
- Issued 2,898,551 pre-funded warrants and series A/B warrants at $1.38/share for gross proceeds of ~$4M.
- Placement closed Sept. 5, 2024; H.C. Wainwright acted as exclusive placement agent.
- Net proceeds to fund working capital, Arakoda commercialization, and R&D programs.
- Warrants exercisable upon stockholder approval; Series A expire 5 years, Series B expire 18 months thereafter.