China's SXT Pharmaceuticals slumps on proposed equity offering

China SXT Pharmaceuticals

18/01/2022 11:35

** Shares of China-based pharma co  SXTC.O  fall as much as 
61% to $0.21 before the bell - on track to hit record low if
losses hold 
    ** Stock top percentage loser on the Nasdaq  .IXIC  in
premarket trading  
    ** Co said late on Friday that it intends to offer ordinary
shares, prefunded warrants  urn:newsml:reuters.com:*:nGNX2gxJrX 
    ** SXTC says base offering expected to be up to about $3.4
million, and co intends to use proceeds for working capital
purposes, among others 
    ** Co says Aegis Capital Corp is sole book-running manager
for offering
    ** SXTC fell 50.5% in 2021 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))