Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 207

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 207
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 to US$15,258,357, and cash totaling US$1,050,000 was repaid to the Investor. The Notes balance
was US$9,741,322, with a carrying value of US$9,908,256, net of deferred financing costs of US$166,934 was recorded in the accompanying
unaudited condensed consolidated balance sheets as of March 31, 2025.

On June 20, 2024, the Company entered into a securities
purchase agreement with certain non-U.S. investors (the “June 2024 Purchasers”), pursuant to which the Company agreed to sell,
and the June 2024 Purchasers agreed to purchase, severally and not jointly, an aggregate of 58,333 shares of common stock of the Company
(the “June 2024 Shares”) at an offering price of US$120.00 per share for gross proceeds of up to US$7.0 million. In reliance
on the June 2024 Purchasers’ representations to the Company, the June 2024 Shares issued in this offering were not subject to the
registration requirements of the Securities Act, pursuant to Regulation S promulgated thereunder. As of June 30, 2024, proceeds of approximately
US$6.4 million were received by the Company, and the remaining proceeds were fully received by the Company in July 2024, and all of the
June 2024 Shares were issued on July 8, 2024.

On July 11, 2024, the Company entered into an Underwriting
Agreement with EF Hutton LLC, as the representative for several underwriters, relating to the underwritten public offering (the “Offering”)
of 77,882 shares of the common stock at a public offering price of US$25.68 per share, for aggregate gross proceeds of approximately US$2.0
million, prior to deducting underwriting discounts and other offering expenses. In addition, the Company granted the underwriters a 45-day
option to purchase up to an additional 11,683 shares of the common stock at the public offering price per share, less the underwriting
discounts to cover over-allotments, if any. The Offering closed on July 15, 2024, and the 45-day option expired on August 30, 2024. The
Offering closed on July 15, 2024, and the 45-day option expired on August