China SXT Pharmaceuticals prices $9 million registered direct offering with warrants

China SXT Pharmaceuticals Inc. filed a prospectus supplement dated July 23, 2026 for a registered direct offering. Under the deal, the securities purchase agreement dated July 23, 2026 set a purchase price of $2.00 per unit, with investors agreeing to buy Class A Ordinary Shares and warrants for an aggregate subscription amount up to $9,000,000.¹

Each unit includes one Class A Ordinary Share and one warrant. The warrants are immediately exercisable, expire one year after the initial exercise date, and carry an initial exercise price of $3.20 per share, with a cashless exercise option available under certain conditions.¹ The warrants also include a "zero price exercise" feature: the low price used in that calculation cannot fall below a floor price of $0.40, subject to adjustment for share splits and similar transactions.¹ Because of that structure, the company said it does not expect to receive any cash proceeds from exercise of the warrants, since holders would likely choose the zero exercise price option instead of paying cash.¹

Univest Securities, LLC is acting as exclusive placement agent, using best efforts to arrange the sale of the securities.¹ The company estimates net proceeds of approximately $8.28 million after placement agent fees and offering expenses.¹ Proceeds are intended for general corporate purposes and working capital.¹ Delivery of the securities is expected on or about July 24, 2026.¹

The company's Class A Ordinary Shares trade on Nasdaq under "SXTC," last closing at $2.02 on July 22, 2026.¹ Through its China subsidiaries and variable interest entity, the company operates as a pharmaceutical business focused on traditional Chinese medicine products.¹ The filing notes the company is a holding company incorporated in the British Virgin Islands, conducting operations through subsidiaries and a VIE in China.¹