Mangoceuticals, Inc., a Texas-based pharmaceutical company, has reported a series of financial transactions and corporate actions in a recent Form 8-K filing with the SEC. The company entered into a Securities Purchase Agreement on April 4, 2024, with an institutional accredited investor, selling 1,500 shares of Series B Convertible Preferred Stock and warrants to purchase up to 3,300,000 shares of common stock. The initial closing occurred on April 5, 2024, with subsequent closings scheduled, including the most recent third closing on June 28, 2024, where 750 shares of Series B Preferred Stock and additional warrants were sold. The company has also amended the Purchase Agreement to adjust the closing schedules and remove an option for the investor to purchase additional Series B Preferred Stock. Furthermore, the company's...Show More

Mangoceuticals, Inc., a Texas-based pharmaceutical company, has reported a series of financial transactions and corporate actions in a recent Form 8-K filing with the SEC. The company entered into a Securities Purchase Agreement on April 4, 2024, with an institutional accredited investor, selling 1,500 shares of Series B Convertible Preferred Stock and warrants to purchase up to 3,300,000 shares of common stock. The initial closing occurred on April 5, 2024, with subsequent closings scheduled, including the most recent third closing on June 28, 2024, where 750 shares of Series B Preferred Stock and additional warrants were sold. The company has also amended the Purchase Agreement to adjust the closing schedules and remove an option for the investor to purchase additional Series B Preferred Stock. Furthermore, the company's stockholders approved the issuance of more than 19.99% of outstanding common stock upon conversion of the Series B Preferred Stock and exercise of warrants, in compliance with Nasdaq Listing Rule 5635(d). The company has also made amendments to the Series B Preferred Stock's designation, increasing the floor price from $0.035 to $0.15 per share. The company has reserved 50,000,000 shares of Common Stock for potential issuance upon exercise of the warrants and conversion of the Series B Preferred Stock. Boustead Securities, LLC acted as the financial advisor for these transactions. The securities sold in these transactions were not registered under the Securities Act and were exempt from registration, being offered to an accredited investor for investment purposes.