TAIZHOU, China, March 17, 2025 (GLOBE NEWSWIRE) -- China SXT Pharmaceuticals, Inc. (Nasdaq: SXTC) (the "Company"), a specialty pharmaceutical company focusing on the research, development, manufacturing, marketing, and sales of Traditional Chinese Medicine Pieces ("TCMPs"), including Advanced TCMPs (Directly-Oral TCMP and After-Soaking-Oral TCMP), fine TCMPs, regular TCMPs, and TCM Homologous Supplements ("TCMHS"), today announced that the Company received a written notification (the "Compliance Notice") from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") dated March 13, 2025, informing the Company that it has regained compliance with the Nasdaq Listing Rule 5550(a)(2) ("Minimum Bid Price Requirement") and the matter is closed.
As previously announced, the Company received a notification letter from the Nasdaq dated October 3, 2024, indicating its failure to maintain a minimum bid price of US$1.00 per share for 30 consecutive business days under Minimum Bid Price Requirement. Pursuant to the Nasdaq Listing Rules 5810(c)(3)(A), the Company was provided with 180 calendar days, or until April 1, 2025, to regain compliance.
To comply with the Minimum Bid Price Requirement, the closing bid price of the Company's ordinary shares must be at least US$1.00 per share for a minimum of 10 consecutive business days at any time prior to April 1, 2025. Therefore, in order to cure the Minimum Bid Price deficiency, the Company has effectuated a share consolidation on February 25, 2025, of which every eight (8) issued and unissued ordinary shares of the Company with no par value each be consolidated into one (1) share with no par value.
According to the Compliance Notice, the Company evidenced a closing bid price of its ordinary shares at or greater than US$1.00 per share for 10 consecutive business days from February 25, 2025 to March 12, 2025. Thus, the Company has regained compliance with the Minimum Bid Price Requirement, and the matter is closed.
About China SXT Pharmaceuticals, Inc.
Founded in 2005 and headquartered in Taizhou City, Jiangsu Province, China, China SXT Pharmaceuticals, Inc. is an innovative pharmaceutical company focusing on the research, development, manufacture, marketing and sales of traditional Chinese medicine pieces, which is a type of Traditional Chinese Medicine that has been processed to be ready for use. For more information, please visit www.sxtchina.com.
Safe Harbor Statement
This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements include, among others, statements regarding the Company's plans to regain compliance with the minimum bid price requirement. The Company's actual results may differ materially from those expressed in any forward-looking statements as a result of various factors and uncertainties. The reports filed by the Company with the Securities and Exchange Commission discuss these and other important factors and risks that may affect the Company's business, results of operations and financial conditions. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Feng Zhou, Chief Executive Officer
Email: fzhou@sxtchina.com
