60 Degrees Pharmaceuticals, Inc. Announces Private Placement Priced At-the-Market Under Nasdaq Rules

Rhea-AI Summary

60 Degrees Pharmaceuticals (NASDAQ: SXTP) entered into definitive agreements for a private placement of 574,713 shares of common stock (or pre-funded warrants in lieu) plus series A and short-term series B warrants to purchase up to 574,713 shares each, at a purchase price of $1.74 per share and accompanying warrants, priced at-the-market under Nasdaq rules.

The series A and B warrants have an exercise price of $1.49 per share, are exercisable upon issuance, with series A expiring five years and series B twenty-four months from the effective date of a resale registration statement. Closing is expected on or about July 31, 2026, subject to customary conditions. Gross proceeds are expected to be approximately $1.0 million before fees and expenses, excluding any warrant exercise proceeds. The securities are being offered in a private placement under Section 4(a)(2) and/or Regulation D, and the company intends to use net proceeds for working capital and general corporate purposes.

Positive

• $1.0 million expected gross proceeds before fees and expenses
• Potential additional capital from exercise of up to 1,149,426 warrants
• Financing structured at-the-market under Nasdaq rules
• Use of proceeds designated for working capital and general corporate purposes

Negative

• Issuance of up to 574,713 new shares plus warrants implies shareholder dilution
• Warrants for up to 1,149,426 shares create potential future overhang
• Offering size of approximately $1.0 million is relatively limited in scale

Market reaction after at-market private placement: SXTP -28.19%

-28.19% $1.07 3.2x vol

15m delay

-28.19% Vs previous close

$1.07 Last Price

$1.05 $1.68 Day Range

$2.86M Market Cap

3.2x Rel. Volume

Following this news, SXTP has declined 28.19%, reflecting a significant negative market reaction. Our momentum scanner has triggered 27 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $1.07. Trading volume is very high at 3.2x the average, suggesting heavy selling pressure.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Market Context

The tag-specific record showed -5.56% and -0.72% reactions to earlier private placements, while the ...

Analysis

The tag-specific record showed -5.56% and -0.72% reactions to earlier private placements, while the CEO recorded Net Buying. This frames the financing against mixed platform signals; low short positioning remained a risk factor to monitor.

Key Figures

Shares issued: 574,713 shares Purchase price: $1.74 per share Warrant exercise price: $1.49 per share +4 more

7 metrics

Shares issued 574,713 shares Private placement; common stock or pre-funded warrants

Purchase price $1.74 per share Private placement

Warrant exercise price $1.49 per share Series A and short-term Series B warrants

Gross proceeds $1.0 million Expected offering proceeds before fees and expenses

Series A warrant term Five years From the effective date of the Resale Registration Statement

Series B warrant term Twenty-four months From the effective date of the Resale Registration Statement

Expected closing date July 31, 2026 Subject to customary closing conditions

Previous Private placement Reports

2 past events · Latest: Sep 06 (Negative)

Same Type Pattern 2 events

Date	Event	Sentiment	24h Move	Catalyst
Sep 06	Private placement closing	Negative	-5.6%	Closed $4 million placement with common stock and accompanying warrants.
Sep 04	Private placement announcement	Negative	-0.7%	Announced $4 million at-market placement with shares and Series A and B warrants.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Prior tag-matched private-placement announcements both had negative 24-hour reactions, averaging -3.14%.

Key Terms

at-the-market, pre-funded warrants, resale registration statement, regulation d

4 terms

at-the-market financial

"private placement priced at-the-market under Nasdaq rules"

"At-the-market" is a method for companies to sell new shares of stock directly into the open market over time, rather than all at once. It allows companies to raise money gradually, similar to selling slices of a pie instead of the entire pie at once, which can help manage the sale's impact on the stock price. This approach gives investors a steady supply of shares while providing companies with flexible funding options.

pre-funded warrants financial

"common stock (or pre-funded warrants in lieu thereof)"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

resale registration statement regulatory

"file a resale registration statement covering the securities"

A resale registration statement is a document filed with regulators that allows existing shareholders to sell their shares to the public. It provides the necessary legal approval and information for these shares to be resold on the market, helping to increase the availability of shares for trading. For investors, it signals that shares held by current owners can be offered for sale, potentially affecting share prices and market liquidity.

regulation d regulatory

"Regulation D promulgated thereunder"

Regulation D is a set of rules that govern how companies can raise money from investors without going through the full process required for public stock offerings. It provides simplified options for private placements, making it easier for companies to seek investments from a smaller group of investors. For investors, it offers opportunities to invest in private companies, often with fewer restrictions, but also with different levels of risk and disclosure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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WASHINGTON, July 30, 2026 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP, SXTPW) (“60 Degrees” or the “Company”), a pharmaceutical company that develops and commercializes new medicines for vector-borne disease, today announced that it has entered into definitive agreements for the issuance and sale of an aggregate of 574,713 shares of its common stock (or pre-funded warrants in lieu thereof), series A warrants to purchase up to 574,713 shares of common stock and short-term series B warrants to purchase up to 574,713 shares of common stock at a purchase price of $1.74 per share (or per pre-funded warrant in lieu thereof) and accompanying warrants in a private placement priced at-the-market under Nasdaq rules. The series A warrants and short-term series B warrants will have an exercise price of $1.49 per share and will be exercisable upon issuance. The Series A warrants will expire five years from the effective date of the Resale Registration Statement (as defined below) and the short-term Series B warrants will expire twenty-four months from the effective date of the Resale Registration Statement. The closing of the offering is expected to occur on or about July 31, 2026, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the private placement.

The gross proceeds to 60 Degrees from the offering are expected to be approximately $1.0 million, before deducting the placement agent’s fees and other offering expenses payable by 60 Degrees, and excluding the proceeds, if any, from the exercise of the warrants. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.

The securities described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and/or Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Securities Act, or applicable state securities laws. Accordingly, the securities described above, including the shares of common stock underlying the warrants, may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. Pursuant to a registration rights agreement, the Company has agreed to file a resale registration statement covering the securities described above (the “Resale Registration Statement”).

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About 60 Degrees Pharmaceuticals, Inc.

60 Degrees Pharmaceuticals, Inc., founded in 2010, specializes in developing and commercializing new medicines for the treatment and prevention of vector-borne disease. The Company achieved U.S. Food and Drug Administration approval of its lead product, ARAKODA® (tafenoquine), for malaria prevention, in 2018. ARAKODA is commercially available in the U.S. and Australia. 60 Degrees Pharmaceuticals, Inc. also collaborates with prominent research and academic organizations in the U.S. and Australia. 60 Degrees Pharmaceuticals, Inc. is headquartered in Washington, D.C., with a subsidiary in Australia. Learn more at www.60degreespharma.com.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward‐looking statements reflect the current view about future events, which include, among others, statements related to the completion of the private placement, the satisfaction of customary closing conditions related to the private placement and the intended use of proceeds from the private placement. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "future," "intend," "plan," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: there is substantial doubt as to our ability to continue on a going-concern basis; we might not be eligible for Australian government research and development tax rebates; if we are not able to successfully develop, obtain FDA approval for, and provide for the commercialization of non-malaria prevention indications for tafenoquine (ARAKODA® or other regimen) or castanospermine in a timely manner, we may not be able to expand our business operations; we may not be able to successfully conduct planned clinical trials or patient recruitment in our trials might be slow or negligible; and we have no manufacturing capacity which puts us at risk of lengthy and costly delays in bringing our products to market, and general market and other conditions. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the information contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on March 30, 2026, and our subsequent SEC filings. Investors and security holders are urged to read these documents free of charge on the SEC's website at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.

Media Contact:
Kristen Landon
kristenlandon@60degreespharma.com

Investor Contact:
Patrick Gaynes
patrickgaynes@60degreespharma.com

FAQ

What did 60 Degrees Pharmaceuticals (NASDAQ: SXTP) announce about its July 2026 private placement?

60 Degrees Pharmaceuticals announced definitive agreements for a private placement of common stock, pre-funded warrants, and accompanying warrants. According to 60 Degrees Pharmaceuticals, the deal covers 574,713 shares and related warrants, with closing expected around July 31, 2026, subject to customary conditions.

How much capital will 60 Degrees Pharmaceuticals (SXTP) raise in the July 2026 private placement?

The company expects gross proceeds of approximately $1.0 million before fees and expenses. According to 60 Degrees Pharmaceuticals, this excludes any additional proceeds from the future exercise of the series A and short-term series B warrants issued in the transaction.

What are the pricing terms of the 60 Degrees Pharmaceuticals (SXTP) private placement?

Each share or pre-funded warrant plus accompanying warrants is priced at $1.74. According to 60 Degrees Pharmaceuticals, the series A and short-term series B warrants have an exercise price of $1.49 per share and are exercisable upon issuance, with different expiration timelines.

When do the 60 Degrees Pharmaceuticals (SXTP) series A and series B warrants expire?

Series A warrants expire five years from the effective date of the resale registration statement. According to 60 Degrees Pharmaceuticals, the short-term series B warrants expire twenty-four months from that effective date, and both series are exercisable upon issuance at $1.49 per share.

How will 60 Degrees Pharmaceuticals use the proceeds from the SXTP private placement?

The company plans to use net proceeds for working capital and general corporate purposes. According to 60 Degrees Pharmaceuticals, the approximately $1.0 million in expected gross proceeds will support its ongoing operations, excluding any future warrant exercise proceeds.

Are the new SXTP securities from 60 Degrees Pharmaceuticals registered under the Securities Act?

The securities are being offered in a private placement and are not registered under the Securities Act. According to 60 Degrees Pharmaceuticals, they may only be sold under an effective registration statement or a valid exemption, and a resale registration statement is planned.

Who is acting as placement agent for the 60 Degrees Pharmaceuticals (SXTP) private placement?

H.C. Wainwright & Co. is the exclusive placement agent for the private placement. According to 60 Degrees Pharmaceuticals, the firm is handling the transaction, with gross proceeds expected to be about $1.0 million before deducting placement agent fees and offering expenses.