China SXT Pharmaceuticals prices $12 million offering of 8 million units at $1.50 each
SXTC•China SXT Pharmaceuticals priced a registered direct offering of 8 million units at $1.50 each, expecting gross proceeds of about $12 million, excluding warrant exercises.
1. Offering terms
Investors also received ordinary warrants exercisable immediately at $2.75 per share through one year after issuance. The warrants include cashless exercise if no effective registration statement is in place, and a “zero exercise price” option could increase the number of issuable shares to 72 million; investors also received a 30-day option to buy up to an additional $12 million of securities on the same terms.
