Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 178

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 178
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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 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 30, 2024. The net proceeds from the Offering were approximately US$1.7 million, after deducting the estimated underwriting
discounts and commissions and estimated offering expenses.

On
August 22, 2024, the Company entered into a securities purchase agreement (the “SPA”) with 22 purchasers, each an
unrelated third party to the Company (collectively, the “August 2024 Purchasers”). Pursuant to the SPA, the August 2024
Purchasers agree to purchase, and the Company agreed to issue and sell to the August 2024 Purchasers, an aggregate of 624,375 shares
of the Company’s common stock, par value US