60 Degrees Pharmaceuticals Holds 2026 Annual Meeting; Approves Reverse Stock Split

What Happened
60 Degrees Pharmaceuticals, Inc. (SXTP) filed an 8‑K reporting its virtual 2026 Annual Stockholders Meeting held August 5, 2026 (record date July 2, 2026). Shareholders approved an amendment to the certificate of incorporation authorizing a reverse stock split at a ratio between 1:5 and 1:10 (to be set by the Board), elected five directors, approved an 800,000‑share increase to the 2022 Equity Incentive Plan, ratified RBSM LLP as auditor for 2026, and approved a management success‑fee structure tied to a change‑of‑control or sale of Arakoda.

Key Details

• Outstanding common shares on record date: 2,659,288; shares represented at the meeting: 1,107,592 (~41.6% quorum).
• Reverse stock split vote: For 836,390; Against 253,388; Abstain 17,814 — proposal approved. Board will set the exact split between 1:5 and 1:10.
• 2022 Equity Incentive Plan amendment (add 800,000 shares): For 126,984; Against 44,464; Abstain 806 — approved.
• Director elections (Geoffrey Dow, Eric Francois, Cheryl Xu, Stephen Toovey, Paul Field) were approved; each ballot shows large broker non‑votes (935,338) on the director slate.
• Auditor ratification: RBSM LLP ratified — For 997,089; Against 86,366; Abstain 24,137.
• Management success fee on sale/change of control of Arakoda (5% for $40M–$100M; 6% above $100M) approved: For 92,303; Against 77,865; Abstain 2,086.

Why It Matters
The reverse split authorization can materially change the company’s share count and per‑share price when the Board sets the exact ratio — a move often used to meet listing standards or affect trading dynamics. The equity plan increase creates potential future dilution if new awards are granted. Approval of a management success fee means a portion of any future transaction proceeds for Arakoda could be paid to management as cash or equity. High broker non‑votes on several items indicate many shares held by brokers were not voted on those proposals, which affected raw vote totals. Investors should watch for Board action setting the exact reverse split ratio and subsequent filings that show the effective date, new share count, and any impacts to trading or filings.