Mangoceuticals Raises Capital and Boosts CEO Perks

Mangoceuticals, Inc. (MGRX) has shared an announcement.

On August 22, 2024, a company successfully completed a partial sale of its Series B Preferred Stock at a 10% discount, raising $500,000 through the sale of an additional 500 shares. This transaction was greenlit by stockholders and compliant with Nasdaq rules, specifically avoiding a public offering and targeting accredited investors, with strict transfer restrictions in place. In a separate board decision, the CEO’s monthly car allowance was increased from $1,500 to $2,500, as per his executive employment agreement.

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