WallachBeth Capital Announce Closing Of 60 Degrees Pharmaceuticals IPO At $5.30 Per Unit

Rhea-AI Summary

60 Degrees Pharmaceuticals, Inc. has completed its IPO, raising approximately $7.5 million in gross proceeds. The company offered 1,415,095 units at a price of $5.30 per unit. The shares and tradeable warrants are now trading on the Nasdaq Capital Market under the symbols 'SXTP' and 'SXTPW', respectively.

Positive

• 60 Degrees Pharmaceuticals, Inc. successfully raised $7.5 million in its IPO, which could positively impact its stock price. The company offered 1,415,095 units at a price of $5.30 per unit, providing a significant infusion of capital for future growth.

Negative

• None.

JERSEY CITY, N.J., July 14, 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 has completed its previously announced IPO of 1,415,095 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 began trading on the Nasdaq Capital Market on July 12, 2023, under the symbols "SXTP" and "SXTPW," respectively.

WallachBeth Capital, LLC is the Sole Bookrunner for the Offering.

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 July 11, 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 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.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the anticipated use of proceeds from the Company's offering of its units. Forward-looking statements can be identified by words such as "believes," "expects," "estimates," "intends," "may," "plans," "will" and similar expressions, or the negative of these words. Such forward-looking statements are based on facts and conditions as they exist at the time such statements are made and predictions as to future facts and conditions. Readers of this press release are cautioned not to place undue reliance on any forward-looking statements. The Company does not undertake any obligation to update any forward-looking statement relating to matters discussed in this press release, except as may be required by applicable securities laws.

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SOURCE WallachBeth Capital LLC

FAQ

What is the IPO price of 60 Degrees Pharmaceuticals, Inc.?

The IPO price of 60 Degrees Pharmaceuticals, Inc. was $5.30 per unit.

How much capital did 60 Degrees Pharmaceuticals, Inc. raise in its IPO?

60 Degrees Pharmaceuticals, Inc. raised approximately $7.5 million in its IPO.

Where are the shares and tradeable warrants of 60 Degrees Pharmaceuticals, Inc. trading?

The shares and tradeable warrants of 60 Degrees Pharmaceuticals, Inc. are trading on the Nasdaq Capital Market under the symbols 'SXTP' and 'SXTPW', respectively.