China SXT Pharmaceuticals, Inc. Receives Notification Letter from Nasdaq Regarding the Insufficient Offer Price


TAIZHOU, China, December 16, 2021 / PRNewswire / – China SXT Pharmaceuticals, Inc. (“SXTC” or the “Company”), (NASDAQ: SXTC) announced today that the December 14, 2021, the Company has received a notification letter from the Nasdaq Listing Qualifications Staff of The NASDAQ Stock Market LLC (“Nasdaq”) advising the Company that the minimum bid price per share for its actions was below $ 1.00 for a period of 30 consecutive business days and the Company therefore no longer meets the minimum bid price requirements set out in Nasdaq Listing Rule 5550 (a) (2).

The notification received has no immediate effect on the listing of the Company’s ordinary shares on the Nasdaq. Under the Nasdaq listing rules, the Company has up to June 13, 2022, to regain compliance. If at any time during this 180 day period, the closing bid price of the common shares of the Company is at least $ 1 for at least 10 consecutive business days, the Nasdaq will provide the Company with written confirmation of compliance.

If the Company does not restore compliance within this 180 day period, the Company may be eligible for an additional 180 calendar days, provided the Company meets the continuous listing requirement for the market value of the shares held. by the public and all other initial listing standards for the Nasdaq. except for Nasdaq Listing Rule 5550 (a) (2), and provide written notice of its intention to remedy this deficiency during the second compliance period, by effecting a reverse stock split, if necessary.

About China SXT Pharmaceuticals, Inc.

Founded in 2005 and based in Taizhou City, Jiangsu Province, China, China SXT Pharmaceuticals, Inc. is an innovative pharmaceutical company focused on researching, developing, manufacturing, marketing and selling parts of Traditional Chinese Medicine, a type of Traditional Chinese Medicine that has been processed to be ready to work. For more information, please visit www.sxtchina.com.

Safe Harbor Declaration

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding future plans, objectives, goals, strategies, events or performance, and assumptions underlying statements and other statements that are other than statements of historical fact. When the Company uses words such as “may”, “will”, “intention”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate” or Similar phrases that do not relate only to matters, it makes forward-looking statements. More specifically, the statements by the Company regarding the closing of the proposed private placement are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties which may cause actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the objectives and strategies of the Company; the future business development of the Company; demand and acceptance of products and services; technological changes; the growth of the pharmaceutical market, in particular the market for pieces of traditional Chinese medicine (“TCMP”), in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets served by the Company and the assumptions underlying or related to any of the aforementioned and other risks contained in the reports filed by the Company with the Securities and Exchange Commission. For these and other reasons, investors are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Additional factors are discussed in documents filed by the Company with the United States Securities and Exchange Commission, which can be viewed at www.sec.gov. The Company assumes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Cision

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SOURCE China SXT Pharmaceuticals, Inc.


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