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COMMACK, NY - Scienture Holdings, Inc. (NASDAQ:SCNX), a micro-cap pharmaceutical company with a market capitalization of $16.2 million, announced Wednesday that it has entered into an agreement with Arena Finance Markets, LP and Arena Special Opportunities III LP to fully discharge all outstanding balances on previously issued secured convertible debentures.
Under the agreement signed on October 3, the parties amended the conversion price to $2.4861 per share of common stock. Arena Investors have agreed to convert the remaining amounts owed under the debentures into shares of Scienture’s common stock.
Following the conversion, all obligations under the debentures and related transaction documents have been deemed paid in full and discharged, except for limited surviving obligations under previously disclosed agreements. All liens, pledges, and security interests previously granted to Arena Investors as collateral will be automatically released.
"The conversion of the debentures marks a pivotal step in advancing our long-term strategic objectives, further strengthening our balance sheet, eliminating interest-bearing obligations, and optimizing the Company’s capital structure," said Narasimhan Mani, President and co-CEO of Scienture, according to the press release. The company’s stock has faced significant pressure, declining 89% over the past year, with InvestingPro analysis revealing multiple financial health challenges. Subscribers can access 8 additional key financial insights about SCNX.
Scienture Holdings is a pharmaceutical company focused on developing and commercializing specialty products that address unmet market needs through its wholly owned subsidiary, Scienture, LLC.
The company recently launched its first product, though specific details about the product were not provided in the announcement.
With this transaction, Arena Investors have no further funding obligations or credit commitments to Scienture Holdings.
In other recent news, Scienture Holdings, Inc. has been actively engaged in several financial maneuvers. The company announced it raised approximately $3.9 million in a registered direct offering by selling 3,225,000 shares of common stock at $1.20 per share. This offering is expected to close on August 15, 2025, subject to customary closing conditions. Additionally, Scienture Holdings secured $1.2 million in bridge funding through the issuance of common stock to institutional or accredited investors, with a total bridge funding target of up to $3 million.
Furthermore, Scienture Holdings amended its bylaws to lower the quorum requirement for shareholder meetings to one-third of the voting stock, down from a majority. The company also reached an agreement with Arena Investors to amend the terms of its secured convertible debentures, setting a revised conversion price of $2.4861 per share. Arena Investors agreed to convert the remaining amounts owed under the debentures into shares of Scienture Holdings’ common stock. These developments reflect the company’s ongoing efforts to manage its financial structure and shareholder engagement.
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