60 Degrees Pharmaceuticals, Inc. (60P) has announced a series of significant corporate events, including the approval of a reverse stock split, amendments to equity incentive plans, and the ratification of RBSM LLP as their independent auditor for the fiscal year ending December 31, 2024. The reverse stock split, at a ratio ranging from 1:5 to 1:12, is intended to raise the per-share trading price of 60P's common stock to comply with Nasdaq listing requirements. Additionally, the company seeks shareholder approval to increase the number of shares authorized under its 2022 Equity Incentive Plan by 5,000,000 shares. Amendments to the strike price and vesting provisions of options granted to the CEO and CFO, as well as the issuance of options to a consultant, are also subject to shareholder...Show More

60 Degrees Pharmaceuticals, Inc. (60P) has announced a series of significant corporate events, including the approval of a reverse stock split, amendments to equity incentive plans, and the ratification of RBSM LLP as their independent auditor for the fiscal year ending December 31, 2024. The reverse stock split, at a ratio ranging from 1:5 to 1:12, is intended to raise the per-share trading price of 60P's common stock to comply with Nasdaq listing requirements. Additionally, the company seeks shareholder approval to increase the number of shares authorized under its 2022 Equity Incentive Plan by 5,000,000 shares. Amendments to the strike price and vesting provisions of options granted to the CEO and CFO, as well as the issuance of options to a consultant, are also subject to shareholder approval to comply with Nasdaq Listing Rule 5635(c). The company's board has the discretion to determine the timing and ratio of the reverse stock split and may abandon the plan before it becomes effective. The annual meeting of stockholders, where these proposals will be considered, is scheduled for July 16, 2024, and will be held virtually via audio webcast.