Saturday, January 05, 2019 4:55:40 AM
Shares to Commence Trading Today on the NASDAQ Capital Market as "SXTC"
TAIZHOU, China and NEW YORK, Jan. 4, 2019 /PRNewswire/ -- China SXT Pharmaceuticals, Inc. (the "Company") (NASDAQ: SXTC), a specialty pharmaceutical company focusing on the research, development, manufacture, marketing and sales of Traditional Chinese Medicine Pieces ("TCMPs"), today announced the final closing of its initial public offering on January 3, 2019. Together with the first closing on December 31, 2018, the Company raised approximately $10.2 million in gross proceeds, before deducting underwriting discounts, commissions and other offering expenses, by issuing 2,546,275 ordinary shares at a public offering price of $4.00 per share. The shares are scheduled to commence trading on the NASDAQ Capital Market today at around 2:05 p.m. ET under the ticker symbol "SXTC".
Boustead Securities, LLC acted as the sole underwriter for the offering. Hunter Taubman Fischer & Li LLC acted as U.S. legal counsel to the Company, and Sichenzia Ross Ference LLP acted as legal counsel to the underwriter.
The Company intends to use the proceeds from this offering primarily for: i) expanding its manufacturing facility; ii) recruiting additional employees; iii) research and development of new drug candidates; and iv) general working capital.
A registration statement relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission ("SEC") on September 28, 2018. The offering of these securities will be made only by means of a prospectus, forming a part of the registration statement. A copy of the final prospectus relating to the offering may be obtained by contacting Boustead Securities, LLC email: offerings@boustead1828.com or by calling +1 (949) 502-4409 or standard mail at Boustead Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite 265, Irvine, CA 92618, USA. In addition, a copy of the final prospectus relating to the offering may be obtained via the SEC's website at www.sec.gov.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any sale of such 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.
About China SXT Pharmaceuticals, Inc.
Incorporated in 2005 and headquartered in Taizhou City, Jiangsu Province, China, China SXT Pharmaceuticals, Inc. is an innovative pharmaceutical company based focusing on the research, development, manufacture, marketing and sales of traditional Chinese medicine pieces, which is a type of Traditional Chinese Medicine that has been processed to be ready for use. For more information, please visit www.sxtchina.com.
About Boustead Securities, LLC
Boustead Securities, LLC ("Boustead") is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead's core value proposition is the ability to create opportunity through innovative solutions and tenacious execution. With experienced professionals in the United States and around the world, Boustead's team moves quickly and provides a broad spectrum of sophisticated financial advice and services. For more information, visit www.boustead1828.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding trading on the NASDAQ Capital Market are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; the growth of the pharmaceutical market, particularly the Traditional Chinese Medicine Pieces ("TCMPs") market, in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company serves and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
Recent SXTC News
- Form 20-F - Annual and transition report of foreign private issuers [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/13/2024 08:15:30 PM
- Form NT 20-F - Notification of inability to timely file Form 20-F • Edgar (US Regulatory) • 07/31/2024 08:15:02 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/14/2024 08:15:22 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 01/11/2024 09:31:29 PM
- China SXT Pharmaceuticals, Inc. Regained Compliance with Nasdaq’s Minimum Bid Price Rule • GlobeNewswire Inc. • 10/26/2023 08:05:00 PM
- China SXT Pharmaceuticals Announces One-for-Twenty-five Reverse Stock Split • GlobeNewswire Inc. • 10/04/2023 12:30:58 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM