On April 5, 2024, Mangoceuticals, Inc., a Texas-based pharmaceutical company, entered into a Securities Purchase Agreement (SPA) with an institutional accredited investor, Platinum Point Capital LLC. The agreement, effective April 5, 2024, involves the sale of 1,500 shares of Series B Convertible Preferred Stock and warrants to purchase up to 3,300,000 shares of common stock, amounting to an aggregate purchase price of $3,150,000. The transaction is structured to occur over three closings, with the initial closing already completed on the same day, resulting in the sale of 500 shares of Series B Preferred Stock and the associated warrants for $500,000. The subsequent closings are contingent upon stockholder approval and other customary conditions. Additionally, Mangoceuticals has entered into an Equity Line of Credit (ELOC) with Platinum Point Capital LLC...Show More

On April 5, 2024, Mangoceuticals, Inc., a Texas-based pharmaceutical company, entered into a Securities Purchase Agreement (SPA) with an institutional accredited investor, Platinum Point Capital LLC. The agreement, effective April 5, 2024, involves the sale of 1,500 shares of Series B Convertible Preferred Stock and warrants to purchase up to 3,300,000 shares of common stock, amounting to an aggregate purchase price of $3,150,000. The transaction is structured to occur over three closings, with the initial closing already completed on the same day, resulting in the sale of 500 shares of Series B Preferred Stock and the associated warrants for $500,000. The subsequent closings are contingent upon stockholder approval and other customary conditions. Additionally, Mangoceuticals has entered into an Equity Line of Credit (ELOC) with Platinum Point Capital LLC, under which the investor has committed to purchasing up to $25,000,000 of Mangoceuticals' common stock. The company also issued 1,000,000 shares of common stock to the investor as a commitment fee. Both the SPA and ELOC are accompanied by Registration Rights Agreements obligating Mangoceuticals to file registration statements with the SEC for the resale of the shares involved. The company has reserved 50,000,000 shares of common stock for the potential conversion of the Series B Preferred Stock and exercise of the warrants. The Board of Directors has appointed Jacob D. Cohen as Secretary of the Company on the same date.