60 Degrees Pharmaceuticals strikes warrant inducement deal with existing holders

On November 5, 2026, 60 Degrees Pharmaceuticals, Inc. entered into inducement offer letter agreements with holders of warrants originally issued on July 16, 2025, February 6, 2025, January 30, 2025 and September 5, 2024, covering up to an aggregate of 584,492 shares at original exercise prices ranging from $7.60 to $27.60 per share, as disclosed in a Form 8-K filed with the SEC.

Under the letters, the holders agreed to exercise the existing warrants for cash at a reduced price of $0.90 per share, in exchange for the company's commitment to issue new unregistered warrants to purchase up to 1,168,984 shares, equal to 200% of the existing warrant shares exercised.¹ The company expects to receive aggregate gross proceeds of $526,042.80 from the exercise of the existing warrants, before deducting placement agent fees and other offering expenses.¹ Net proceeds are intended for working capital and general corporate purposes.¹ The closing is expected to occur on or about November 9, 2026, subject to customary closing conditions.¹

The new warrants carry a $0.90 exercise price and become exercisable once stockholder approval of the new warrant shares, as required under Nasdaq rules, is obtained.¹ The company also agreed to hold a stockholder meeting within 90 days of the letters to seek that approval, and to call further meetings every 90 days until approval is obtained or the warrants are no longer outstanding.¹

H.C. Wainwright & Co., LLC is acting as exclusive placement agent, receiving a 7.5% cash fee and a 1.0% management fee on gross proceeds from the existing warrant exercises.¹ The firm will also receive $10,000 in non-accountable expenses and warrants to purchase up to 43,837 shares at $1.125 per share.¹ The new warrants and related shares are being offered without registration under an exemption tied to Section 4(a)(2) and Rule 506(b) of Regulation D.¹