SCHEDULE: Intracoastal Capital Group Discloses 9.99% Stake in 60 Degrees Pharmaceuticals
Beneficial Ownership Report
A group comprising Mitchell P. Kopin, Daniel B. Asher, and Intracoastal Capital LLC has reported beneficial ownership of 9.99% of 60 Degrees Pharmaceuticals, Inc.'s common stock.
Summary
- Mitchell P. Kopin, Daniel B. Asher, and Intracoastal Capital LLC (the "Reporting Persons") have filed a Schedule 13G indicating beneficial ownership in 60 Degrees Pharmaceuticals, Inc.
- As of July 18, 2025, the Reporting Persons collectively beneficially own 372,429 shares of Common Stock, representing approximately 9.99% of the outstanding class.
- This ownership includes 45,612 shares of Common Stock held directly by Intracoastal, 189,316 shares issuable upon exercise of Intracoastal Warrant 1, and 137,501 shares issuable upon exercise of Intracoastal Warrant 2.
- The calculation of the 9.99% beneficial ownership is based on 1,472,891 shares of Common Stock outstanding as of July 2, 2025, plus 1,753,314 shares issued at the closing of the Securities Purchase Agreement (SPA), 175,000 shares issued upon exercise of Intracoastal Warrant 1, and the shares currently issuable from Intracoastal Warrants 1 and 2.
- The filing details that numerous warrants (Intracoastal Warrants 1 through 8) contain blocker provisions, limiting exercise to prevent beneficial ownership from exceeding 9.99% or 4.99% thresholds.
- Without these blocker provisions, the Reporting Persons would have been deemed to beneficially own 1,465,097 shares of Common Stock as of July 18, 2025.
- The shares were not acquired for the purpose of changing or influencing control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 240.14a-11.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, inherently neutral in sentiment.
Future Outlook
NA
Industry Context
This filing is a standard disclosure of significant ownership by an investment group in a publicly traded company. It does not provide broader industry trends or context beyond the specific ownership stake.
Stakeholder Impact
- Shareholders: The disclosure of a significant ownership stake by an investment group could influence market perception and potentially the company's strategic direction, although the filing states the acquisition was not for control purposes.
- Company Management: Awareness of a large shareholder group may influence future corporate decisions and engagement strategies.
Key Dates
| Date | Description |
|---|---|
| 2025-07-02 | Date as of which 1,472,891 shares of Common Stock were reported outstanding by the Issuer. |
| 2025-07-15 | Date of the event which required the filing of this statement (execution of the Securities Purchase Agreement with the Issuer). |
| 2025-07-16 | Date of Form 424B5 prospectus filing by the Issuer with the SEC, disclosing the SPA. |
| 2025-07-18 | Date of signing and filing of the Schedule 13G, reflecting current beneficial ownership. |
Keywords
60 Degrees Pharmaceuticals, Intracoastal Capital LLC, Mitchell P. Kopin, Daniel B. Asher, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Shareholder, Warrants, Blocker Provision
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