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China SXT Pharmaceuticals Inc. (NASDAQ: SXTC) is a leading pharmaceutical company based in Taizhou, China, that specializes in the research, development, manufacture, marketing, and sale of Traditional Chinese Medicine Piece Tablets (TCMP). Founded in 2005, the company focuses on producing advanced, fine, and regular TCMP products, including notable offerings like chenxiang, sanqifen, hongqi, and renshen. These products are marketed under well-known brands such as Suxuantang, Hui Chun Tang, and Tong Ren Tang.
China SXT Pharmaceuticals serves a wide array of clients, including 116 pharmaceutical companies, 56 pharmacies, and 76 hospitals across China, leveraging its expertise to deliver quality healthcare solutions. The company is particularly noted for its Advanced TCMP, which includes Directly-Oral TCMP and After-Soaking-Oral TCMP, making these traditional remedies more convenient and ready-to-use without requiring decoction.
In recent developments, China SXT Pharmaceuticals announced a significant one-for-twenty-five reverse stock split effective October 5, 2023, to comply with NASDAQ's minimum bid price requirement. This move aims to maintain the company's listing on the NASDAQ Capital Market, crucial for its ongoing financial health and liquidity. Post-split, the company's ordinary shares will trade under a new CUSIP number, G2161P140, and the total number of outstanding shares will be reduced from approximately 18.2 million to 0.8 million shares.
The company has a robust presence in the People's Republic of China, where it generates the majority of its revenue. It continues to innovate and expand its product range, ensuring adherence to rigorous quality and safety standards. By combining traditional wisdom with modern pharmaceutical practices, China SXT Pharmaceuticals remains at the forefront of the TCMP market.
For more detailed information on the company's products, financial performance, and latest news, please visit their official website at www.sxtchina.com.
China SXT Pharmaceuticals (NASDAQ: SXTC) has received a notification from Nasdaq on October 3, 2024, stating that the company no longer meets the minimum bid price requirements. SXTC's ordinary shares have been below $1.00 for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). The company has until April 1, 2025, to regain compliance by maintaining a closing bid price of at least $1 for a minimum of 10 consecutive business days. If SXTC fails to meet this requirement, it may be eligible for an additional 180-day compliance period, provided it meets other listing standards and expresses intention to cure the deficiency, possibly through a reverse stock split.
On November 3, 2022, China SXT Pharmaceuticals, Inc. (SXTC) received a notification from Nasdaq indicating that its ordinary shares have been below the $1.00 minimum bid price for 30 consecutive business days. Although this notification does not immediately affect its listing, the company has until May 2, 2023, to regain compliance. If compliance is not met, the company may be eligible for an additional 180 days, potentially requiring a reverse stock split. Founded in 2005, China's SXT focuses on developing and marketing traditional Chinese medicine.
China SXT Pharmaceuticals, Inc. (NASDAQ: SXTC) announced a 1-for-20 reverse stock split effective May 17, 2022, following board approval on May 10, 2022. Shareholders will receive one new share for every twenty they hold, reducing the total shares outstanding from approximately 40.6 million to about 2.03 million. The company aims for its share price to increase to roughly twenty times the pre-split price, though it cannot guarantee the market will maintain this price level. The reverse split will also adjust outstanding stock options and restricted shares.
China SXT Pharmaceuticals, Inc. (SXTC) announced a securities purchase agreement to issue a convertible promissory note worth $2,804,848.00 to Streeterville Capital, LLC. The 12-month note will carry a 6% annual interest rate, with conversion options starting 90 days post-issuance at an initial price of $0.30. The company plans to utilize the proceeds for general corporate purposes, including working capital. This transaction is expected to close around March 16, 2022, pending customary conditions.
China SXT Pharmaceuticals, Inc. (NASDAQ:SXTC) successfully completed a $4.1 million underwritten public offering of ordinary shares, including the over-allotment. Aegis Capital Corp. acted as the sole bookrunner for this offering. Founded in 2005 and headquartered in Jiangsu Province, China, the company specializes in the research and development of traditional Chinese medicine pieces, facilitating their marketing and sales to the market. The funds raised are expected to support further growth initiatives.
China SXT Pharmaceuticals, Inc. (SXTC) announced the closing of an underwritten public offering, generating approximately $4.1 million in gross proceeds. This offering includes 22,777,774 ordinary shares priced at $0.18 per share, along with prefunded warrants. The funds will be used for general corporate purposes, including working capital. Aegis Capital Corp. was the sole manager for this offering, which is registered under Form F-3 with the SEC. For more details, visit the SEC's website or the company site.
China SXT Pharmaceuticals, Inc. (SXTC) announced a public offering of approximately 19.8 million ordinary shares, priced at $0.18 per share, aiming for gross proceeds of $3.5 million. An additional option allows underwriters to purchase 2.97 million shares, potentially raising proceeds to $4.1 million. The funds will support general corporate purposes and working capital. The offering's closing is anticipated on January 20, 2022, pending customary conditions. Aegis Capital Corp. is the sole book-running manager for this offering.
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