Form 8-K - Current report
October 25 2024 - 4:00PM
Edgar (US Regulatory)
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0001938046
0001938046
2024-10-18
2024-10-18
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported): October 18, 2024
MANGOCEUTICALS,
INC.
(Exact
name of registrant as specified in its charter)
Texas |
|
001-41615 |
|
87-3841292 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
15110
N. Dallas Parkway, Suite 600
Dallas,
Texas |
|
75248 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (214) 242-9619
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, $0.0001 Par Value Per Share |
|
MGRX |
|
The
Nasdaq Stock Market LLC
(Nasdaq
Capital Market) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item
3.02 Unregistered Sales of Equity Securities.
As
previously disclosed in the Current Report on Form 8-K filed by Mangoceuticals, Inc., a Texas corporation (the “Company”,
“we” and “us”) with the Securities and Exchange Commission on April 11, 2024, on April 5, 2024,
the Company entered into an Equity Purchase Agreement (the “ELOC”) with Platinum Point Capital (the “Purchaser”)
pursuant to which the Purchaser committed to purchase up to $25,000,000 of the Company’s common stock pursuant to the terms of
the ELOC.
Pursuant
to the ELOC, the Company, subject to certain conditions, is able to direct the Purchaser to purchase shares of the Company’s common
stock (the “Advance Shares”) in a maximum amount of one hundred percent (100%) of the average daily trading volume
over the five trading days preceding the applicable advance date. At any time and from time to time during the 2-year term of the ELOC
(the “Commitment Period”), the Company may deliver a notice to Purchaser (the “Advance Notice”)
and shall deliver the Advance Shares to Purchaser via DWAC on the next trading day. The purchase price (the “Purchase Price”)
for the Advance Shares shall equal 90.0% of the gross proceeds received by the Purchaser for the resale of the Advance Shares during
the three consecutive trading days immediately following the date an Advance Notice is delivered (the “Valuation Period”).
The closing of an Advance Notice shall occur within two trading days following the end of the respective Valuation Period, whereby the
Purchaser shall deliver the purchase price for the shares (the Purchase Price, less clearing costs and transfer agent fees) to the Company
by wire transfer of immediately available funds.
On
October 24, 2024, the Company delivered an Advance Notice to the Purchaser and sold the Purchaser 33,333 shares of common stock pursuant
to the terms of the ELOC for $2.36 per share for a total of $78,787, net of fees, discounts and expenses.
The
issuance of the shares of common stock discussed above were exempt from registration pursuant to an exemption from registration provided
by, Section 4(a)(2), and/or Rule 506 of Regulation D of the Securities Act of 1933, as amended (the “Securities Act”),
since the foregoing issuances did not involve a public offering, the recipient took the securities for investment and not resale, we
took appropriate measures to restrict transfer, and the recipient was an “accredited investor”. The securities are
subject to transfer restrictions, and the securities contain an appropriate legend stating that such securities have not been registered
under the Securities Act and may not be offered or sold absent registration or pursuant to an exemption therefrom. The securities were
not registered under the Securities Act and such securities may not be offered or sold in the United States absent registration or an
exemption from registration under the Securities Act and any applicable state securities laws.
The
resale of the shares of common stock issuable pursuant to the ELOC have been registered by the Company under the Securities Act, on a
registration statement declared effective by the Securities and Exchange Commission.
On
October 18, 2024, the Purchaser converted a total of 200 shares of Series B Preferred Stock of the Company into 93,299 shares of common
stock of the Company, in accordance with the terms of the Series B Preferred Stock. The shares were valued at $2.358 per share for a
total value of $220,000.
The
resale of the shares of common stock issuable upon conversion of the Series B Preferred Stock have been registered by the Company under
the Securities Act, on a registration statement declared effective by the Securities and Exchange Commission.
We
claim an exemption from registration provided by Section 3(a)(9) of the Securities Act for such issuance of common stock upon conversion
of the Series B Preferred Stock, as the securities were exchanged by us with our existing security holder in a transaction where no commission
or other remuneration was paid or given directly or indirectly for soliciting such exchanges.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
MANGOCEUTICALS,
INC. |
|
|
|
Date:
October 25, 2024 |
By: |
/s/
Jacob D. Cohen |
|
|
Jacob
D. Cohen |
|
|
Chief
Executive Officer |
v3.24.3
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Oct. 18, 2024 |
Cover [Abstract] |
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Document Type |
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Document Period End Date |
Oct. 18, 2024
|
Entity File Number |
001-41615
|
Entity Registrant Name |
MANGOCEUTICALS,
INC.
|
Entity Central Index Key |
0001938046
|
Entity Tax Identification Number |
87-3841292
|
Entity Incorporation, State or Country Code |
TX
|
Entity Address, Address Line One |
15110
N. Dallas Parkway
|
Entity Address, Address Line Two |
Suite 600
|
Entity Address, City or Town |
Dallas
|
Entity Address, State or Province |
TX
|
Entity Address, Postal Zip Code |
75248
|
City Area Code |
(214)
|
Local Phone Number |
242-9619
|
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Title of 12(b) Security |
Common
Stock, $0.0001 Par Value Per Share
|
Trading Symbol |
MGRX
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
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