China SXT (NASDAQ: SXTC) sets up $100M at-the-market share offering
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
China SXT Pharmaceuticals, Inc. entered into a Sales Agreement with Univest Securities, LLC to sell its Class A ordinary shares in an at-the-market offering of up to $100,000,000. Univest will act as sales agent and/or principal under specified written instructions from the company.
The commission for sales where Univest acts as sales agent is 3.00% of gross proceeds, and the company will reimburse $0.003 per share for certain trading and exchange fees and other expenses subject to limits. The ATM program is registered on the company’s Form F-3 shelf and can be terminated by either party on written notice.
Positive
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Negative
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Key Figures
ATM program size: $100,000,000 Class A ordinary shares
Sales agent commission: 3.00% of gross proceeds
Per-share fee reimbursement: $0.003 per share
3 metrics
ATM program size
$100,000,000 Class A ordinary shares
Aggregate offering amount under Sales Agreement and Form F-3
Sales agent commission
3.00% of gross proceeds
Commission rate payable to Univest Securities as sales agent
Per-share fee reimbursement
$0.003 per share
Trading and exchange fee reimbursement and certain other expenses
Key Terms
at-the-market offering, shelf registration statement, prospectus supplement, indemnification and contribution, +2 more
6 terms
at-the-market offering financial
"in an aggregate offering amount of up to $100,000,000 through an at-the-market offering"
An at-the-market offering is a method companies use to sell new shares of stock directly into the open market over time, rather than all at once. This allows them to raise money gradually, similar to selling small pieces of a product instead of a large batch. For investors, it means the company can access funding more flexibly, but it may also increase the supply of shares and influence the stock’s price.
shelf registration statement regulatory
"The offering has been registered under the Securities Act pursuant to the Company’s shelf registration statement on Form F-3"
A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.
prospectus supplement regulatory
"as supplemented by the prospectus supplement dated June 1, 2026, relating to the sale of up to $100,000,000"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
indemnification and contribution regulatory
"The Sales Agreement contains customary representations and warranties of the parties and indemnification and contribution provisions"
Form F-3 regulatory
"the Company’s registration statement on Form F-3 (No. 333-291428) filed with the SEC on November 10, 2025"
Form F-3 is a U.S. securities filing that lets eligible foreign companies pre-register and then quickly sell shares or other securities to raise money, because they already meet ongoing reporting and size tests. For investors it signals that the company is up-to-date with regulatory disclosure and has an efficient way to issue new securities — similar to a pre-approved credit line — which can mean faster capital raises but also potential dilution of existing holdings.
Form S-8 regulatory
"the Company’s registration statement on Form S-8 (No. 333-286212) filed with the SEC on March 28, 2025"
A Form S-8 is a U.S. Securities and Exchange Commission registration that lets a public company set aside shares for employee benefit plans and stock-based compensation. Think of it as opening a dedicated account that authorizes the company to issue or reserve stock for workers and directors; it matters to investors because it enables share dilution when those awards are granted or exercised and signals how management is compensated and incentivized.
FAQ
What did China SXT Pharmaceuticals (SXTC) announce in this Form 6-K?
China SXT Pharmaceuticals entered a Sales Agreement with Univest Securities to sell Class A ordinary shares in an at-the-market offering of up to $100,000,000, using its existing Form F-3 shelf registration and a related prospectus supplement dated June 1, 2026.
How large is the at-the-market offering for China SXT Pharmaceuticals (SXTC)?
The at-the-market share offering permits sales of up to $100,000,000 of China SXT’s Class A ordinary shares. These sales will be made under the company’s Form F-3 shelf registration and a June 1, 2026 prospectus supplement covering the same $100,000,000 amount.
What are the fees China SXT (SXTC) will pay Univest Securities under the Sales Agreement?
For shares sold as sales agent, Univest earns a 3.00% commission on gross proceeds. China SXT will also reimburse $0.003 per share for trading and exchange fees and certain other expenses, subject to limitations contained in the Sales Agreement between the parties.
Is the China SXT (SXTC) at-the-market offering already registered with the SEC?
Yes, the offering is registered under the Securities Act through China SXT’s shelf registration statement on Form F-3 (No. 333-291428), which is supplemented by a June 1, 2026 prospectus supplement covering the sale of up to $100,000,000 Class A ordinary shares.
Can the Sales Agreement between China SXT (SXTC) and Univest Securities be terminated?
Both China SXT and Univest Securities may terminate the Sales Agreement by giving written notice as specified in the contract. This right exists in addition to customary conditions that must be satisfied before individual closings and ongoing sales under the program occur.