01:14 PM EDT, 04/12/2024 (MT Newswires) -- Mangoceuticals' ( MGRX ) said in a regulatory filing late Thursday that it has signed a securities purchase agreement to sell 1,500 shares of series B convertible preferred stock for approximately $1.7 million, and warrants to buy up to 3.3 million shares of common stock for $1.5 million.

The exercise price of the warrants is $0.26.

The company also said Friday that subsidiary MangoRx Mexico has signed a technical agreement with Mexican pharmaceutical firm Emifarma for the initial stages of development and testing of MangoRx's erectile dysfunction products aimed at the Mexican and Latin American markets.

Shares of Mangoceuticals ( MGRX ) were down 7.4% in recent trading Friday.

Price: 0.25, Change: -0.02, Percent Change: -7.43