Summary by Moomoo AI
Mangoceuticals, Inc. has announced the successful completion of its public offering, including the full exercise of the over-allotment option by underwriters. The event, initially reported in a Form 8-K filed on December 19, 2023, detailed the company's entry into an underwriting agreement with Boustead Securities, LLC on December 15, 2023. The offering involved the sale of 4,000,000 shares of common stock at $0.30 per share. On January 18, 2024, the underwriters exercised their option to purchase an additional 600,000 shares, which closed on January 22, 2024, bringing the total shares sold to 4,600,000. The net proceeds from the additional shares amounted to approximately $160,000. Concurrently, Mangoceuticals issued a common stock purchase warrant to the representative for the purchase of 42,000 shares at $0.375 per share, exercisable until December 14, 2028. The warrant includes anti-dilution provisions and piggyback registration rights. Both the warrant and the underlying shares were registered under the company's Registration Statement.