Mangoceuticals Reports Equity Sales and Conversion in Recent 8-K Filing

Mangoceuticals, Inc. (NASDAQ:MGRX) recently filed a Form 8-K with the Securities and Exchange Commission on October 18, 2024, detailing key events surrounding equity sales and conversions within the company.

The Texas-based corporation had previously entered into an Equity Purchase Agreement (ELOC) with Platinum Point Capital, committing to purchasing up to $25,000,000 of Mangoceuticals’ common stock. Pursuant to this agreement, the company has the option to direct the Purchaser to buy shares of common stock based on certain conditions.

On October 24, 2024, Mangoceuticals issued an Advance Notice to the Purchaser and sold 33,333 shares of common stock for $2.36 per share, totaling $78,787 net of fees, discounts, and expenses. These share issuances were exempt from registration under the Securities Act, as they fell under an exemption in accordance with Section 4(a)(2) and/or Rule 506 of Regulation D.

Furthermore, on October 18, 2024, the Purchaser converted 200 shares of Series B Preferred Stock into 93,299 shares of common stock, valued at $2.358 per share for a total of $220,000. The resale of these common stock shares issued upon the conversion of Series B Preferred Stock was registered under the Securities Act.

Mangoceuticals availed an exemption from registration for the issuance of common stock upon the conversion of Series B Preferred Stock under Section 3(a)(9) of the Securities Act, as no commission or other remuneration was involved in the exchange with existing security holders.

The company’s Chief Executive Officer, Jacob D. Cohen, duly signed the report on October 25, 2024, in compliance with the Securities Exchange Act of 1934.

These transactions and conversions underscore Mangoceuticals’ strategic financial moves and its commitment to shareholder interests, as outlined in the recent 8-K filing.

Investors and stakeholders can access the complete Form 8-K filing on the Securities and Exchange Commission’s website for a detailed overview of Mangoceuticals’ recent equity activities.

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.

About Mangoceuticals

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.