China SXT Pharmaceuticals Shares Rise 25.6 Percent After Hours on Equity Offering
China SXT Pharmaceuticals Inc. shares increased 25.6 percent to $2.11 in after-hours trading. The company disclosed an agreement allowing it to raise up to $100 million through an at-the-market equity offering.
prnewswire.comChina SXT Pharmaceuticals Inc. shares rose 25.6 percent to $2.11 in after-hours trading on Monday. The increase followed the company's announcement of a sales agreement with Univest Securities LLC. The agreement permits the company to raise up to $100 million through an at-the-market equity offering.
A Securities and Exchange Commission filing submitted Monday states that China SXT may sell Class A ordinary shares with an aggregate offering value of up to $100 million. The shares may be issued from time to time on the Nasdaq Capital Market or other permitted venues.
Univest Securities will act as sales agent and receive a 3 percent commission on gross proceeds plus reimbursement of certain trading and exchange-related expenses. The filing provides the company with flexible access to equity financing under the terms outlined.
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