Mangoceuticals (NASDAQ:MGRX) Enters into Subscription Agreement with Accredited Investor

Mangoceuticals, Inc. recently entered into a Subscription Agreement with an accredited investor on February 3, 2025. In this agreement, the investor (referred to as the Purchaser) agreed to acquire 70,000 shares of the company’s restricted common stock. The total value of this transaction amounted to $105,000, with each share priced at $1.50. As part of the Subscription Agreement, customary representations and warranties were made by both the Purchaser and Mangoceuticals.

The company has sought an exemption from registration under Section 4(a)(2) and/or Rule 506 of Regulation D of the Securities Act of 1933 for the issuance of these shares. This exemption was pursued because the offer and sale of the shares did not involve a public offering, with the Purchaser being an accredited investor having access to appropriate information comparable to that in a registration statement. Notably, there was no involvement of underwriters or agents, and no underwriting discounts or commissions were paid. The securities issued are subjected to transfer restrictions and contain a designation stating they have not been registered under the Securities Act. Hence, they cannot be traded in the United States without appropriate registration or exemption.

The details provided above regarding the Subscription Agreement are partial. Readers are advised that the complete text of the Subscription Agreement can be referred to in the attached Exhibit 10.1.

In another development, Mangoceuticals disclosed an amendment to the employment agreement of Amanda Hammer, the company’s Chief Operating Officer, effective February 6, 2025. The amendment, known as the “Hammer Amendment,” expanded Ms. Hammer’s role to include serving as Chief Operating Officer of Mango & Peaches Corp., a wholly-owned subsidiary of Mangoceuticals. As part of this amendment, Ms. Hammer’s compensation was increased to $180,000 annually, commencing from February 1, 2025. Additionally, a cash bonus of $15,000 is to be paid within 30 days of the effective date of the Hammer Amendment.

For full details on the Hammer Amendment, interested parties can find the complete text in the attached Exhibit 10.2.

The company’s update on these matters can be further explored in the SEC filing submitted on February 7, 2025. Investors and stakeholders in Mangoceuticals can review the full filing for additional insights.

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.

Mangoceuticals Company Profile

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.