60 Degrees Pharm SEC Filings

60 Degrees Pharmaceuticals, Inc. (Nasdaq: SXTP) has filed a Form S-1 to raise fresh capital through a best-efforts offering of up to 2,036,659 shares of common stock (or pre-funded warrants in lieu of shares) bundled with an equal number of Series A-1 and Series A-2 warrants. The combined assumed public price is $2.455 per share-and-warrant unit, matching the July 2, 2025 closing price. A full subscription would generate gross proceeds of roughly $5.0 million; proceeds are earmarked for general corporate purposes and working capital.

The Series A-1 warrants carry a five-year term, while the shorter-dated Series A-2 warrants expire 18 months after the Initial Exercise Date. Both warrant series initially require shareholder approval to become exercisable unless Nasdaq’s “Pricing Conditions” are met on pricing; the exercise price equals the public offer price ($2.455). Up to 6,109,977 additional shares may be issued upon full warrant exercise (including placement-agent warrants equal to 7.5 % of shares sold).

Capital structure impact: the company had 1,472,891 shares outstanding as of July 2, 2025. Immediate issuance of 2.0 million new shares expands the float by about 138 %. Full warrant exercise could boost fully-diluted share count by more than 400 %, materially diluting existing holders.

Key terms & risk factors:

• No minimum offering size, no escrow; funds are immediately available to the company, but investors bear execution risk if only a fraction of the securities are sold.
• H.C. Wainwright & Co. is acting as exclusive placement agent for a 7.5 % cash fee and warrant compensation.
• There is no public trading market for the new warrants and none is planned.
• The auditor has expressed substantial-doubt going-concern language; the raise is crucial for liquidity.
• The company is an emerging growth and smaller reporting company; it may provide scaled disclosures and faces heightened financing dependence.

Business overview: 60 Degrees is a specialty infectious-disease company. Its FDA-approved malaria prophylactic Arakoda (tafenoquine) entered the U.S. market in 2019. Management is pursuing label expansion to tick-borne babesiosis (three clinical trials in progress) and exploring antifungal and antiviral indications. Recent financings (January and February 2025 registered direct offerings and an ATM program) illustrate an active but dilutive capital strategy.

Investment takeaways: This raise provides short-term cash but introduces considerable dilution and execution risk. Future value hinges on commercialization of Arakoda, successful clinical data in babesiosis, and the ability to secure larger, less dilutive funding once proof-of-concept milestones are met.