China SXT Pharmaceuticals, Inc. Announces Share Consolidation
February 21 2025 - 11:35AM
China SXT Pharmaceutics, Inc. (Nasdaq: SXTC) (the “Company” or
“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 that it will effect a share consolidation of its ordinary
shares at a ratio of 1-for-8, effective on February 25, 2025 (the
“Share Consolidation”). The Company’s ordinary shares are expected
to begin trading on a post-consolidation basis at the open of the
market session on February 25, 2025. Upon the market opening on
February 25, 2025, the Company’s ordinary shares will continue to
be traded on The Nasdaq Stock Market under the symbol “SXTC” with
the new CUSIP number G2161P157.
The Company’s Board of Directors approved the
afore-mentioned Share Consolidation so as to regain compliance with
the minimum bid price requirement of $1.00 per share for continued
listing on the Nasdaq Stock Market (the “Minimum Bid Price
Requirement”). In order to maintain the Company’s listing on the
Nasdaq Stock Market, the Company’s ordinary shares must have a
closing bid price of $1.00 or more for a minimum of ten consecutive
trading days by April 1, 2025. There can be no assurance that
following the Share Consolidation, the Company’s ordinary shares
will remain above $1.00 per share minimum for the requisite period
to regain listing compliance. In the event that the Company does
not regain compliance with the Minimum Bid Price Requirement, its
securities may be subject to delisting from the Nasdaq Stock Market
which, in turn, will result in significant adverse effect on the
value and liquidity of the Company’s securities.
As a result of the Share Consolidation, every
eight (8) shares of the Company’s ordinary shares will be
automatically consolidated into one ordinary share. No fractional
shares will be issued in connection with the Share Consolidation,
and in the event that a shareholder would otherwise be entitled to
receive a fractional share upon the Share Consolidation, the number
of shares to be received by such shareholder will be rounded up to
one ordinary share in lieu of the fractional share that would have
resulted from the Share Consolidation. All outstanding stock
options, warrants and other rights to purchase the Company's
ordinary shares will be adjusted proportionately as a result of the
Share Consolidation.
Upon the effectuation of the Share
Consolidation, shareholders holding shares through a bank, broker
or other nominee will have their shares automatically adjusted to
reflect the share consolidation. Beneficial holders may
contact their bank, broker or nominee for more
information. Please direct any questions to your broker or the
Company's transfer agent, Transhare Corporation, by calling +1
303-662-1122.
About China SXT Pharmaceuticals,
Inc.
Founded in 2005 and headquartered in Taizhou
City, Jiangsu Province, China, China SXT Pharmaceuticals, Inc. is
an innovative pharmaceutical company 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.
Safe Harbor Statement
This press release contains forward-looking
statements. 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. These statements
include, among others, statements regarding the Company’s plans to
regain compliance with the minimum bid price requirement. The
Company’s actual results may differ materially from those expressed
in any forward-looking statements as a result of various factors
and uncertainties. The reports filed by the Company with the
Securities and Exchange Commission discuss these and other
important factors and risks that may affect the Company’s business,
results of operations and financial conditions. For these reasons,
among others, investors are cautioned not to place undue reliance
upon any forward-looking statements in this press release. The
Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that
arise after the date hereof.
For more information, please
contact:
Feng Zhou, Chief Executive Officer
Email: fzhou@sxtchina.com
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