Summary by Moomoo AI
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