China SXT Pharmaceuticals, Inc. Prices $3.5 Million Underwritten Public Offering of Ordinary Shares and Pre-Funded Warrants to Purchase Ordinary Shares

TAIZHOU, China, Jan. 18, 2022 (GLOBE NEWSWIRE) -- China SXT Pharmaceuticals, Inc. ("SXTC" or the "Company"), (NASDAQ:SXTC), a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces ("TCMPs"), including Advanced TCMPs (Directly-Oral TCMP and After-Soaking-Oral TCMP), fine TCMPs, regular TCMPs, and TCM Homologous Supplements ("TCMHS"), today announced the pricing of an underwritten public offering of its ordinary shares and prefunded warrants to purchase ordinary shares, with gross proceeds to the Company expected to be approximately $3.5 million, before deducting underwriting discounts and commissions and other estimated expenses payable by the Company. The Offering equates to 19,806,760 of the Company's ordinary shares at a price of $0.18 per share. The pre-funded warrants are offered at the same price per share as the ordinary shares, less the $0.01 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.