aibioChina SXT cuts pre-paid share purchase floor price back to $0.20 from $16.00
Tickers SXTC
The July 3, 2026 agreement allows pre-paid purchases of up to $31,500,000 before an original issue discount. The August 27 amendment restores the $0.20 floor after a 1-for-80 share consolidation had raised it to $16.00.
Key facts
- Company
- China SXT Pharmaceuticals, Inc. (NASDAQ: SXTC)
- News type
- Listings
- Primary source
- China SXT Pharmaceuticals, Inc. 6-K (2026-08-28)
The amended floor
China SXT Pharmaceuticals, Inc. (Nasdaq: SXTC) said in a Form 6-K dated August 28, 2026 that it signed Amendment No. 1 on August 27, 2026 to a securities purchase agreement dated July 3, 2026. The agreement is with an institutional investor and covers one or more pre-paid purchases of Class A ordinary shares, up to an aggregate principal amount of $31,500,000, before an original issue discount of $1,500,000.
The purchases are made at a designated price that may not fall below a floor price. The original agreement set that floor at $0.20 per share. The amendment reduces the floor from $16.00 back to $0.20 per share.
What changed in between
On August 10, 2026 the company effected a 1-for-80 share consolidation of its Class A ordinary shares. Under Section 3.3 of the pre-paid purchase, the consolidation adjusted the floor from $0.20 to $16.00 per share. The amendment reverses that adjustment entirely. The 6-K does not say whether the $0.20 floor now applies to post-consolidation shares at the same nominal figure that applied before the 1-for-80 consolidation.
The 6-K does not say why the parties agreed to reverse the adjustment, or whether the investor asked for the change. It also does not give the number of shares that could be issued at the floor or the amount drawn so far. The company filed Amendment No. 1 to its registration statement on Form F-3 in connection with the amendment, and the amendment is filed as Exhibit 10.1. The report is signed by the two co-chief executive officers, Feng Zhou and Simon Lim Sze Beng.
The company and its share classes
China SXT is a British Virgin Islands business company. Its Class A ordinary shares have traded on the Nasdaq Capital Market under SXTC since January 3, 2019. Its annual report on Form 20-F, filed July 1, 2026 for the fiscal year ended March 31, 2026, says the company has never paid a dividend and intends to keep its earnings to finance operations.
The 20-F describes a dual-class structure. Shareholders approved Class B ordinary shares on July 28, 2025, carrying 50 votes each on any shareholder resolution. The filing says 532 shares held by Feng Zhou Management Limited were re-designated as Class B. The same report describes a 1-for-25 reverse split effective in October 2023 and a 1-for-8 reverse split on February 25, 2025.
Including the August 2026 consolidation, the documents describe three reverse splits in all, and the floor price in this agreement is a per-share figure that the consolidation changed.
The company's finances
The 20-F's figures for the fiscal year ended March 31, 2026 show a net loss of $6.2 million, up from $3.3 million a year earlier. Cash used in operations was $4.0 million, up from $2.3 million. Year-end cash and cash equivalents were $28.2 million, compared with $18.1 million a year earlier.
The facility is larger than the year-end cash balance. Up to $31,500,000 in pre-paid purchases, before the $1,500,000 discount, would exceed the $28.2 million the company reported at March 31, 2026. The filing does not say how much of the facility the company expects to draw, or on what schedule.
What comes next
The filing gives no date for the next purchase under the agreement, for the effectiveness of the amended Form F-3, or for any closing.