60 Degrees Pharmaceuticals prices $1.0 million private placement

60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP, SXTPW) announced on July 30, 2026 that it had 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 share¹ in a private placement priced at the market under Nasdaq rules.

According to the accompanying 8-K, the deal was structured as a Securities Purchase Agreement covering 191,571 shares of common stock at $1.74 per share, pre-funded warrants to purchase up to 383,142 shares at $1.739 per warrant, series A warrants for up to 574,413 shares and series B warrants for up to 574,413 shares, for gross proceeds of approximately $1.0 million before fees and expenses¹. The common warrants carry an exercise price of $1.49 per share and are exercisable from the date of issuance.¹ The series A warrants expire five years from the effective date of the resale registration statement, and the series B warrants expire twenty-four months from that date.¹

The private placement closed on July 31, 2026.¹ H.C. Wainwright & Co. acted as exclusive placement agent¹, receiving a cash fee equal to 7.5% of gross proceeds, a 1.0% management fee, and reimbursement of $25,000 in non-accountable expenses plus $25,000 in accountable expenses¹, along with warrants to purchase up to 43,103 shares at $2.175 per share, exercisable for five years from the effective date¹.

The company said it intends to use the roughly $1.0 million in gross proceeds for working capital, general operations and its research and development program¹. Separately, the company disclosed it must use best efforts to have the resale registration statement declared effective no later than 45 days following July 30, 2026, or 75 days in the event of a full SEC review¹.

60 Degrees Pharmaceuticals, founded in 2010, focuses on vector-borne disease treatments; its lead product ARAKODA (tafenoquine) received FDA approval for malaria prevention in 2018.¹