Mangoceuticals (NASDAQ:MGRX) Enters into Securities Purchase Agreements with Institutional Investors

Dallas, Texas, January 8, 2025 – Mangoceuticals, Inc. (NASDAQ:MGRX) recently disclosed in a Form 8-K filing with the Securities and Exchange Commission (SEC) that it has finalized Securities Purchase Agreements (SPAs) with institutional accredited investors. The agreements, effective on December 31, 2024, and subsequently on January 3, 2025 and January 6, 2025, involved the sale of Series B Convertible Preferred Stock and warrants to purchase common stock.

The company sold 50, 300, 500, and 50 shares of Series B Preferred Stock for varying amounts, along with corresponding Warrants to purchase common stock at specified exercise prices. Each of the agreements closed on their respective dates, concluding the offering that began on December 18, 2024.

According to the SPAs, purchasers have the right to participate in future financing rounds until the 18th month anniversary of each closing date. The company has reserved 3,000,000 shares of common stock for issuance based on the exercise of warrants and conversion of Series B Preferred Stock.

The agreements also outline standard terms such as representations, warranties, and covenants, including restrictions on specific financial transactions for a defined period. Mangoceuticals specified that the filing was not an offer to sell or solicit buy offers in any jurisdiction where such actions would be unlawful.

Regarding Warrants issued, they are exercisable after 180 days from the grant date for a period of five years. The agreements include provisions on exercise restrictions to prevent exceeding ownership thresholds post-exercise and adjustments for certain corporate events or dilutive issuances.

The Form 8-K made references to previous disclosures for more detailed information on Series B Preferred Stock terms. Additionally, the filing mentioned that the shares sold were exempt from registration rules under Section 4(a)(2) and/or Rule 506 of Regulation D.

If all Series B Preferred Stock shares and Warrants are exercised in full, a maximum of 440,000 and 1,188,000 shares of common stock, respectively, would be due to the holders. Detailed descriptions of the SPAs, Warrants, and Series B Preferred Stock are available in the exhibits attached to the Form 8-K filing.

Investors interested in the specifics of this transaction are encouraged to refer to the complete terms outlined in the filing on the SEC’s website.

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For more information, contact Mangoceuticals, Inc. at (214) 242-9619.

Note: This news article is based on the recent 8-K filing by Mangoceuticals, Inc. with the SEC. The content is for informational purposes only and does not constitute investment advice.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Mangoceuticals’s 8K filing here.

Mangoceuticals Company Profile

Mangoceuticals, Inc develops, markets, and sells various men's wellness products and services through a telemedicine platform in the United States. It offers erectile dysfunction (ED) products under the Mango brand and hair loss products under the Grow brand name. The company markets and sells these branded ED and hair loss products online through its website at MangoRx.com.