China SXT Pharmaceuticals (SXTC) announced that it has entered into a definitive agreement with a single investor for the purchase and sale of an aggregate of 66.67M Class A ordinary shares of the company at a purchase price of 15c per share in a registered direct offering. The aggregate gross proceeds to the company of this offering are expected to be approximately $10M. The transaction is expected to close on or about January 12, subject to the satisfaction of customary closing conditions. Univest Securities is acting as the sole placement agent.
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