China SXT Pharmaceuticals, Inc. Announces Success

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TAIZHOU, China, Jan. 20, 2022 (GLOBE NEWSWIRE) — China SXT Pharmaceuticals, Inc. (“SXTC” or the “Company”), (NASDAQ: SXTC), a specialty pharmaceutical company focused on the research, development, manufacture, marketing and sale of traditional Chinese medicine (“TCMP”) parts, including advanced TCMPs (directly oral TCMP and TCMP after dipping), thin TCMPs, regular TCMPs and TCM counterpart supplements (“TCMHS”), today announced the closing of an underwritten public offering (the “Offer”) of its common stock and pre-funded warrants to purchase common stock, and the concurrent closing of the over-allotment option, with a gross proceeds to the Company of approximately $4.1 million, assuming that the funded warrants will be fully exercised and before deducting underwriting discounts and commissions and other estimated expenses payable by the Company. The Offer relates to 22,777,774 ordinary shares of the Company. The common shares are offered at a price of $0.18 per share and the prefunded warrants are offered at the same price per share as the common shares, less the exercise price of $0.01 per share of each warrant pre-funded. The Company intends to use the net proceeds of this offering for general corporate purposes, including, but not limited to, working capital and other business opportunities.

Aegis Capital Corp. acted as sole bookrunner for the Offering.

This offering is made pursuant to an effective shelf registration statement on Form F-3 (No. 333-252664) previously filed with the United States Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on February 10, 2021. A definitive prospectus supplement relating to the Offer and describing the terms of the Offer has been filed with the SEC and is available on the SEC’s website at www.sec. gov. Electronic copies of the preliminary prospectus supplement and accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at syndicate@aegiscap. com, or by phone at (212) 813-1010. Before investing in this offering, interested parties should read the Prospectus Supplement and accompanying Prospectus in their entirety, as well as the other documents the Company has filed with the SEC and which are incorporated by reference into this prospectus supplement and the accompanying prospectus, which provide more information about the Company and this Offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of such state or territory.

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 that focuses on the research, development, manufacturing, marketing and sales of parts of traditional Chinese medicine, which is a type of traditional Chinese. Medication 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 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, as well as underlying assumptions and other statements other than statements of historical fact. Where the Company uses words such as “may”, “will”, “intends”, “should”, “believes”, “expects”, “anticipates”, “projects”, “estimates” or similar expressions that do not relate solely to material, it makes forward-looking statements. Specifically, the Company’s statements 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 that may cause actual results to differ materially from the Company’s expectations described in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, the following: the Company’s objectives and strategies; the future business development of the Company; requesting and accepting products and services; changes in technology; the growth of the pharmaceutical market, in particular the Traditional Chinese Medicine Parts (“TCMP”) market, 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 relating to any of the aforementioned risks 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. Other factors are discussed in the Company’s filings with the United States Securities and Exchange Commission, which may be viewed at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances occurring after the date hereof.

CONTACT:

Name: Feng Zhou

Email: fzhou@sxtchina.com

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