Mangoceuticals, Inc., a Texas-based pharmaceutical company, reported the sale of an additional 250 shares of Series B Convertible Preferred Stock to an institutional accredited investor on September 26, 2024. This sale, part of a partial fourth closing under a Securities Purchase Agreement (SPA) dated April 4, 2024, and amended on April 28, 2024, was for a total consideration of $250,000. With this transaction, the company has now sold 750 out of the 1,000 Series B Preferred Stock shares available under the fourth closing of the SPA. The remaining 250 shares are still available for future sale to the Purchaser. The Series B Preferred Stock was sold at a 10% discount to its stated value of $1,100 per share. The issuance of these shares was approved by the company's stockholders at the...Show More

Mangoceuticals, Inc., a Texas-based pharmaceutical company, reported the sale of an additional 250 shares of Series B Convertible Preferred Stock to an institutional accredited investor on September 26, 2024. This sale, part of a partial fourth closing under a Securities Purchase Agreement (SPA) dated April 4, 2024, and amended on April 28, 2024, was for a total consideration of $250,000. With this transaction, the company has now sold 750 out of the 1,000 Series B Preferred Stock shares available under the fourth closing of the SPA. The remaining 250 shares are still available for future sale to the Purchaser. The Series B Preferred Stock was sold at a 10% discount to its stated value of $1,100 per share. The issuance of these shares was approved by the company's stockholders at the 2024 Annual Meeting on June 17, 2024, in compliance with Nasdaq Listing Rule 5635(d). The sale was exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) and/or Rule 506 of Regulation D, as it did not involve a public offering and the securities are subject to transfer restrictions. If fully converted, the 250 Series B Preferred Stock shares could result in the issuance of up to 1,833,333 common stock shares, based on a conversion floor price of $0.15 per share.