China SXT Pharmaceuticals Commences ~$12M Offering Of 8M Class A Ordinary Shares At $1.50 Per Share

China SXT Pharmaceuticals Inc. (NASDAQ:SXTC) (the "Company"), today announced that it has entered into a definitive agreement with certain institutional investors for the purchase and sale of an aggregate of 8,000,000 Class A ordinary shares of the company, no par value per share (the "Shares") (or pre-funded warrants in lieu thereof), at a purchase price of $1.50 per share in a registered direct offering.

The aggregate gross proceeds to the Company of this offering are expected to be approximately $12 million, before deducting placement agent fees and other offering expenses payable by the Company.