Mangoceuticals Completes IPO and Lists Shares on Nasdaq
Olshan acted as counsel to Boustead Securities, LLC, as sole managing underwriter, in Mangoceutical, Inc.’s initial public offering of 1,250,000 shares of common stock for gross proceeds to Mango of $5.0 million. Mangoceuticals is focused on developing, marketing and selling via a secure telemedicine platform a variety of men’s health and wellness products, including its uniquely formulated erectile dysfunction (ED) drug branded “Mango.” Serial entrepreneur Jacob D. Cohen leads Mangoceuticals as its Chairman and Chief Executive Officer. The company intends to use the net proceeds from the offering primarily to finance the marketing and operational expenses associated with the planned marketing of its Mango ED product. Mangoceuticals has granted the underwriters an overallotment option to purchase an additional 187,500 shares. Mangoceuticals’ common stock began trading on The Nasdaq Capital Market on March 21, 2023, under the symbol “MGRX.” In connection with the effectiveness of its public offering, Mangoceuticals also registered for resale 4,765,000 shares of its common stock, including upon exercise of warrants, issued in the company’s bridge financing prior to the offering.