China SXT Pharmaceuticals, Inc.’s $10.2 Million Initial Public Offering


Hunter Taubman Fischer & Li advised China SXT Pharmaceuticals on the transaction

China SXT Pharmaceuticals, Inc. (NASDAQ: SXTC), a specialty pharmaceutical company focusing on the research, development, manufacture, marketing and sales of Traditional Chinese Medicine Pieces, announced the final closing of its initial public offering on January 3, 2019.

Together with the first closing on December 31, 2018, the Company raised approximately $10.2 million in gross proceeds, before deducting underwriting discounts, commissions and other offering expenses, by issuing 2,546,275 ordinary shares at a public offering price of $4.00 per share. In the first NASDAQ IPO of 2019, the Company’s shares commenced trading on the NASDAQ Capital Market on January 4, 2019 and closed up 43.5% to finish at $5.74. Boustead Securities, LLC acted as the sole underwriter for the offering.

Hunter Taubman Fischer & Li LLC acted as U.S. legal counsel to the Company.

Sichenzia Ross Ference LLP acted as legal counsel to the underwriter with a team led by Benjamin Tan.

Hunter Taubman Fischer & Li LLC advised with a team including Joan Wu (Picture) and Louis Taubman.

Involved fees earner: Louis Taubman – Hunter Taubman Fischer & Li LLC; Joan Wu – Hunter Taubman Fischer & Li LLC; Benjamin Tan – Sichenzia Ross Ference LLP;

Law Firms: Hunter Taubman Fischer & Li LLC; Sichenzia Ross Ference LLP;

Clients: Boustead Securities LLC; China SXT Pharmaceuticals Inc;

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Author: Ambrogio Visconti