China SXT Pharmaceuticals (SXTC) Announces Proposed Stock and Warrant Offering

January 18, 2022 5:15 AM EST

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China SXT Pharmaceuticals, Inc. (NASDAQ: SXTC) today announced that it intends to offer in an underwritten public offering its ordinary shares and prefunded warrants to purchase ordinary shares. The pre-funded warrants shall be offered at the same price per share as the ordinary shares, less the $0.0001 per share exercise price of each pre-funded warrant. The Company intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, working capital and other business opportunities. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The base offering is expected to be up to approximately $3.4 million, and the underwriter will receive an overallotment option to purchase an additional 15% of the number of ordinary shares and/or pre-funded warrants sold for 45 days following the closing.

Aegis Capital Corp. is acting as the sole book-running manager for the offering.

This offering is being made pursuant to an effective shelf registration statement on Form F-3 (No. 333-252664) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on February 10, 2021. A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.



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