Mangoceuticals, Inc. has announced a series of significant corporate events, including the issuance of Series B Convertible Preferred Stock and associated Warrants, an Equity Line of Credit (ELOC) agreement, and the acquisition of patents through the issuance of Series C Convertible Preferred Stock. The company has entered into a Securities Purchase Agreement (SPA) with an institutional accredited investor to sell Series B Preferred Stock and Warrants, potentially resulting in the issuance of more than 20% of the company's outstanding common stock. Additionally, the ELOC agreement with the same investor could see the sale of common stock up to $25 million, subject to stockholder approval due to the potential issuance exceeding 20% of the outstanding shares. Furthermore, Mangoceuticals has acquired patents related to...Show More

Mangoceuticals, Inc. has announced a series of significant corporate events, including the issuance of Series B Convertible Preferred Stock and associated Warrants, an Equity Line of Credit (ELOC) agreement, and the acquisition of patents through the issuance of Series C Convertible Preferred Stock. The company has entered into a Securities Purchase Agreement (SPA) with an institutional accredited investor to sell Series B Preferred Stock and Warrants, potentially resulting in the issuance of more than 20% of the company's outstanding common stock. Additionally, the ELOC agreement with the same investor could see the sale of common stock up to $25 million, subject to stockholder approval due to the potential issuance exceeding 20% of the outstanding shares. Furthermore, Mangoceuticals has acquired patents related to infection prevention from Intramont Technologies, Inc., compensated with Series C Preferred Stock valued at $19.6 million and cash payments totaling $400,000. The transactions involving Series B and C Preferred Stock and the ELOC are subject to stockholder approval in compliance with Nasdaq Listing Rules 5635(a) and (d). The company is also seeking ratification for the appointment of Turner, Stone & Company, L.L.P. as its independent auditor for the fiscal year ending December 31, 2024. Lastly, a proposal to adjourn the annual meeting to solicit additional proxies for the aforementioned transactions if necessary has been put forth. These strategic moves are aimed at bolstering Mangoceuticals' financial position and expanding its product offerings in the healthcare sector.