Mangoceuticals, Inc. announced that it has entered into on a Securities Purchase Agreement an institutional accredited investor to issue 1,500 shares of Series B Convertible Preferred Stock and warrants to purchase up to 3,300,000 shares of common stock, par value $0.0001 per share at a price of $1,000 per share for the gross proceeds of $1,500,000 on April 4, 2024. The sale of an additional 250 shares of Series B Preferred Stock for $250,000, is to occur upon the earlier of the mutual approval of the Company and the Purchaser, and three business days after the Stockholder Approval and Effectiveness and the sale of an additional 750 shares of Series B Preferred Stock is expected to occur upon Stockholder Approval and Effectiveness. The consummation of the Second Closing and Third Closing contemplated by the SPA, are subject to various customary closing conditions as well as Stockholder Approval and Effectiveness.

The transaction will include participation from new investor Platinum Point Capital LLC.