Dallas, Texas, Dec. 15, 2023 (GLOBE NEWSWIRE) — Mangoceuticals, Inc. (Nasdaq: MGRX), a company focused on developing, marketing, and selling a variety of men’s health and wellness products via a secure telemedicine platform, including its uniquely formulated hair growth product and erectile dysfunction drug, today priced its previously announced underwritten public offering of 4,000,000 shares of its common stock, par value $0.0001 per share, at a public offering price of $0.30 per share, for aggregate gross proceeds of $1,200,000 to the Company, prior to deducting underwriting discounts and commissions and other offering expenses payable by the Company. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 600,000 shares of its common stock at the public offering price of $0.30 per share, less the underwriting discounts and commissions, to cover over-allotments, if any.
The offering is expected to close on or about December 19, 2023, subject to customary closing conditions.
The Company intends to use the net proceeds from the offering to finance the marketing and operational expenses associated with the planned marketing of its Mango ED and GROW hair growth products, to hire additional personnel to build organizational talent, to develop and maintain software, and for working capital and other general corporate purposes.
Boustead Securities, LLC is acting as the sole underwriter for the offering.
About MangoRx
MangoRx is focused on developing a variety of men’s health and wellness products and services via a secure telemedicine platform. To date, the Company has identified men’s wellness telemedicine services and products as a growing sector and especially related to the area of ED and hair growth. Interested consumers can use MangoRx’s telemedicine platform for a smooth experience. Prescription requests will be reviewed by a physician and, if approved, fulfilled and discreetly shipped through MangoRx’s partner compounding pharmacy and right to the patient’s doorstep. To learn more about MangoRx’s mission and other products, please visit www.MangoRx.com or on social media @Mango.Rx.
