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China SXT Pharmaceuticals, Inc., a pharmaceutical company specializing in the research, development, manufacturing, and sales of traditional Chinese medicine pieces (TCMP), has announced a significant change to its share structure. Following a series of warrant exercises by investors, the company has issued 90 million new ordinary shares.
The transactions took place from May 30 to June 2, 2025, when investors exercised their warrants using an alternative cashless exercise provision. This provision allowed the investors to receive 0.9 times the number of ordinary shares they would have received through a standard cash exercise, leading to the cancellation of warrants exercisable into 100 million ordinary shares.
As a result of these exercises, China SXT Pharmaceuticals’ total issued and outstanding number of shares increased to 116,027,758 ordinary shares as of June 10, 2025. The new shares were issued pursuant to a prospectus supplement dated May 16, 2025, and are part of a takedown from the company’s shelf registration statement on Form F-3, which became effective on November 4, 2024.
The original securities purchase agreement, dated May 16, 2025, involved the sale and issuance of 10 million ordinary shares and warrants to purchase up to 100 million ordinary shares. Each ordinary share was sold together with two associated warrants at a combined offering price of $0.51 per ordinary share and associated warrants.
Investors’ recent exercise of their warrants and the resulting issuance of shares are detailed in the latest 6-K filing by China SXT Pharmaceuticals with the SEC. The documents related to the securities purchase agreement and the warrants are available as exhibits to the report and provide further information regarding the transactions.
This press release statement serves as the basis for the facts reported in this article.
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