Summary by Futu AI
60 Degrees Pharmaceuticals, Inc., a pharmaceutical company specializing in infectious disease treatments, has announced the completion of a 1-for-12 reverse stock split of its common stock, effective August 12, 2024. The reverse stock split was approved by the company's stockholders on July 16, 2024, and the final ratio was determined by the Board of Directors on July 19, 2024. The split, which was filed with the Secretary of State of Delaware on July 30, 2024, is intended to comply with Nasdaq's minimum bid price requirement. The company's common stock will continue trading on the Nasdaq under the symbol 'SXTP' with a new CUSIP number. No fractional shares were issued; instead, fractional amounts were rounded up to the nearest whole share. The reverse stock split affects all stockholders uniformly and does not change their percentage equity interest in the company. Equity Stock Transfer, LLC will act as the agent for the reverse stock split, and stockholders do not need to take any action to receive post-split shares.