Wednesday, July 12, 2023 5:19:58 PM
Wed, July 12, 2023 at 1:45 PM EDT
In this article:
JERSEY CITY, N.J., July 12, 2023 /PRNewswire/ -- WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announced today that 60 Degrees Pharmaceuticals, Inc., (NASDAQ: SXTP; SXTPW) specialists in developing and marketing medicines for infectious diseases priced its initial public offering of 1,415,095 units (each, a "Unit," collectively, the "Units") at a price of $5.30 per Unit for a total of approximately $7.5 million of gross proceeds to the Company. Each Unit is comprised of one share of the Company's common stock, one tradeable warrant to purchase one share of common stock at an exercise price of $6.095 per share, and one non-tradeable warrant to purchase one share of the Company's common stock at an exercise price of $6.36.
The shares and Tradeable Warrants are expected to begin trading on the Nasdaq Capital Market on July 12, 2023, under the symbols "SXTP" and "SXTPW," respectively. The offering is expected to close on or about July 14, 2023, subject to customary closing conditions.
The underwriters have been granted an option, exercisable within 45 days after the closing of this offering, to purchase shares of the Company's common stock at a price of $5.28 per share and/or Tradeable Warrants at a price of $0.01 per Tradeable Warrant, and/or Non-tradeable Warrants at $0.01 per Non-tradeable Warrant, or any combination of additional shares of common stock and Warrants representing, in the aggregate, up to 15% of the number of Units sold in this offering, in all cases less the underwriting discount.
WallachBeth Capital, LLC is the Sole Bookrunner for the Offering.
The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from WallachBeth Capital, LLC, via email: cap-mkts@wallachbeth.com, or by calling +1 (646) 237-8585, or by standard mail at WallachBeth Capital, LLC, Attn: Capital Markets, 185 Hudson St., Suite 1410, Jersey City, NJ 07311, USA. In addition, a copy of the final prospectus, when available, relating to the offering may be obtained via the Securities and Exchange Commission's ("SEC") website at www.sec.gov.
A registration statement on Form S-1, as amended (File No. 333-269483), relating to these securities was filed with the SEC and was declared effective on June 14, 2023. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About 60 Degrees Pharmaceuticals, Inc.
60 Degrees Pharmaceuticals, Inc., founded in 2010, specializes in developing and marketing new medicines for the treatment and prevention of infectious diseases that affect the lives of millions of people. 60P successfully achieved FDA approval of its lead product, ARAKODA® (tafenoquine), for malaria prevention, in 2018.
About WallachBeth Capital LLC.
WallachBeth Capital offers a robust range of capital markets and investment banking services to the healthcare community. The firm's experience includes initial public offerings, follow-on issues, PIPE offerings, and private transactions. The firm's website is located at www.wallachbeth.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Recent SXTP News
- 60 Degrees Pharmaceuticals Receives FDA Orphan Drug Designation for Tafenoquine for Treatment of Patients with Acute Babesiosis • GlobeNewswire Inc. • 06/11/2024 11:59:00 AM
- Enrollment in 60 Degrees Pharmaceuticals Clinical Trial of Tafenoquine for Babesiosis to Begin at Tufts Medical Center; First Study of Its Kind • GlobeNewswire Inc. • 05/30/2024 11:59:00 AM
- 60 Degrees Pharmaceuticals Funds Babesia spp Testing in Chronic Fatigue Patient Samples in NC State College of Veterinary Medicine Study • GlobeNewswire Inc. • 05/20/2024 11:59:00 AM
- 60 Degrees Pharmaceuticals Announces First Quarter 2024 Results • GlobeNewswire Inc. • 05/15/2024 05:45:03 PM
- 60 Degrees Pharmaceuticals Outlines Upcoming Clinical Trial of Tafenoquine in Babesiosis in Letter to Journal of Infectious Diseases • GlobeNewswire Inc. • 05/08/2024 11:59:00 AM
- 60 Degrees Pharmaceuticals Receives FDA Comments on Tafenoquine-Babesiosis Clinical Trial Protocol; No Material Changes Required • GlobeNewswire Inc. • 05/02/2024 11:59:00 AM
- 60 Degrees Pharmaceuticals to Sponsor Pilot Study of Tafenoquine for Treatment of Canine Babesiosis • GlobeNewswire Inc. • 04/03/2024 11:58:00 AM
- 60 Degrees Pharmaceuticals Announces Communication from the FDA of Intention to Respond to Tafenoquine-Babesiosis Trial Protocol Submission in April, 2024 • GlobeNewswire Inc. • 03/14/2024 11:59:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/20/2024 09:00:34 PM
- 60 Degrees Pharmaceuticals to Sponsor Pre-Clinical Studies of Tafenoquine Use in Candida spp, Including Candida auris • GlobeNewswire Inc. • 02/20/2024 12:59:00 PM
- 60 Degrees Pharmaceuticals Appoints Kristen Landon as Chief Commercial Officer • GlobeNewswire Inc. • 02/08/2024 12:59:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/02/2024 08:33:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/02/2024 08:31:40 PM
- WallachBeth Capital Announce Closing of 60 Degrees Pharmaceuticals $2.4 Million Public Offering • PR Newswire (US) • 01/31/2024 05:00:00 PM
- 60 Degrees Pharmaceuticals Announces Closing of $2.4 Million Public Offering • GlobeNewswire Inc. • 01/31/2024 04:15:00 PM
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- 60 Degrees Pharmaceuticals Announces Pricing of $2.4 Million Public Offering • GlobeNewswire Inc. • 01/30/2024 02:00:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 01/30/2024 05:15:25 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/22/2024 10:01:11 PM
- 60 Degrees Pharma Plans Pivotal Babesiosis Study with Tafenoquine Following Jan 17 FDA Meeting • GlobeNewswire Inc. • 01/22/2024 12:59:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/16/2024 07:56:53 PM
- 60 Degrees Pharma Regains Compliance with Nasdaq Listing Requirements • GlobeNewswire Inc. • 01/16/2024 12:59:00 PM
- 60 Degrees Pharma Announces IRB Approval of Phase IIA Study to Evaluate Tafenoquine for Babesiosis, an Emerging Tick-Borne Disease; Type C Meeting Re-Scheduled by FDA to January 17, 2024 • GlobeNewswire Inc. • 12/26/2023 12:59:00 PM
- 60 Degrees Pharma Announces Type C Meeting with FDA to Discuss Development of Tafenoquine for Babesiosis, an Emerging Tick-Borne Disease • GlobeNewswire Inc. • 11/15/2023 12:29:00 PM
- 60 Degrees Pharma to Present Review of Safety, Efficacy Data of 8-Aminoquinolines for Malaria and Babesiosis Treatment at ILADS Annual Scientific Meeting in Boston • GlobeNewswire Inc. • 10/19/2023 12:31:00 PM
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