尚高生命科学美股招股说明书(2024-07-11版)

424B51form424b5.htm FiledPursuanttoRule424(b)(5)RegistrationNo.333-261229 Theinformationinthispreliminaryprospectussupplementisnotcompleteandmaybechanged.ThispreliminaryprospectussupplementandtheaccompanyingprospectusarepartofaneffectiveregistrationstatementfiledwiththeU.S.SecuritiesandExchangeCommissionundertheSecuritiesActof1933,asamended.Thispreliminaryprospectussupplementandtheaccompanyingprospectusarenotanoffertosellthesesecuritiesandarenotsolicitinganoffertobuythesesecuritiesinanystateorotherjurisdictionwheretheofferorsaleisnotpermitted. SUBJECTTOCOMPLETION PRELIMINARYPROSPECTUSSUPPLEMENTDATEDJULY11,2024 PRELIMINARYPROSPECTUSSUPPLEMENT (TotheProspectusDatedJune10,2022) Shineco,Inc. SHARESOFCOMMONSTOCKANDPRE-FUNDEDWARRANTSTOPURCHASESHARESOFCOMMONSTOCK Pursuanttothisprospectussupplementandtheaccompanyingprospectus,Shineco,Inc.,aDelawarecorporation(“Shineco”),isofferingsharesofcommonstock,parvalue$0.001pershare.Eachshareofcommonstockisbeingsoldatapriceof$.Shinecoisalsoofferingpre-fundedwarrants(eacha“Pre-fundedWarrant”)topurchaseuptosharesofcommonstock,exercisableatanexercisepriceof$0.001pershare,tothosepurchaserswhosepurchaseofsharesinthisofferingwouldotherwiseresultinthepurchaser,togetherwithitsaffiliatesandcertainrelatedparties,beneficiallyowningmorethan4.99%or9.99%ofShineco’soutstandingsharesofcommonstockimmediatelyfollowingtheconsummationofthisoffering.ThepurchasepriceofeachPre-fundedWarrantis$,whichequalsthepricepersharebeingsoldtothepublicinthisoffering,minus $0.001.ThePre-fundedWarrantswillbeimmediatelyexercisableuponissuanceuntilexercisedinfull.WearealsoofferingthesharesofcommonstockthatareissuablefromtimetotimeuponexerciseofthePre-fundedWarrants. Shineco’scommonstockislistedontheNasdaqCapitalMarket(the“Nasdaq”)andtradedunderthesymbol“SISI.”ThereisnoestablishedtradingmarketforthePre-fundedWarrantsandwedonotintendtoapplyforlistingofthepre-fundedwarrantsonanynationalsecuritiesexchangeoranyothernationallyrecognizedtradingsystem.Withoutanactivetradingmarket,theliquidityofthePre-FundedWarrantswillbelimited.OnJuly10,2024,theclosingpriceofShineco’scommonstockwas$2.49pershare.AsofJuly10,2024,theaggregatemarketvalueofShineco’soutstandingcommonstockheldbynon-affiliatesisapproximately$35.66million,basedon9,373,165totalsharesofoutstandingcommonstockasofJuly10,2024,ofwhich7,907,311sharesareheldbynon-affiliatesandapersharepriceof$4.51whichistheclosingpriceonJuly9,2024.PursuanttoGeneralInstruction I.B.6ofFormS-3,innoeventwillShinecosellsecuritiesregisteredontheregistrationstatementofwhichthisprospectussupplementisapartwithavalueofmorethanone-thirdoftheaggregatemarketvalueofShineco’scommonstockheldbynon-affiliatesinany12-monthperiod,solongastheaggregatemarketvalueofShineco’scommonstockheldbynon-affiliatesislessthan$75,000,000.Shinecohasofferedsharesofcommonstockwithanaggregatevalueof$1,440,000pursuanttoGeneralInstructionI.B.6.ofFormS-3duringtheprior12calendarmonthperiodthatendsonandincludesthedateofthisprospectussupplement. InsteadofaChineseoperatingcompany,ShinecoisaholdingcompanyincorporatedintheStateofDelaware.YouwillbepurchasingthesharesofcommonstockofShineco,thedomesticholdingcompanywithoffshoresubsidiariespursuanttothisprospectussupplement.YouarenotdirectlyinvestinginanyofthesubsidiariesofShineco.Unlessthecontextrequiresotherwise,referencestothe“Company,”“we,”“our,”and“us,”refertoShineco,Inc.anditssubsidiaries,andwhendescribingthefinancialresultsofShinecoforthefiscalyearsendedJune30,2023and2022andtheninemonthsendedMarch31,2024and2023,alsoincludesitsformervariableinterestentities(the“formerVIEs”)andtheiroperatingsubsidiariesinPeople’sRepublicofChina(the“PRC”or“China”),andreferencesto“Shineco”referstoShineco,Inc.,ourNevadaholdingcompany.ShinecoterminatedtheVIEstructureinSeptember2023andcurrentlyonlyconductsitsbusinessoperationsthroughsubsidiariesinChina. Thesecuritiesofferedbythisprospectussupplementinvolvehighdegreeofrisks.ShinecoisaholdingcompanyincorporatedintheStateofDelaware.Asaholdingcompanywithnooperationsofitsown,ShinecoconductsitsoperationsthroughoperatingsubsidiariesinChina.ThesharesofcommonstockofferedinthisprospectussupplementisthecapitalstockofShineco,theDelawareholdingcompanythatindirectlyholdsequityinterestsinitssubsidiaries.PriortoSeptember2023,ShinecooperateditsbusinessinChinainrelianceuponitsformerVIEs.TheVIEstructurewasusedtoreplicateforeigninvestmentinChinese-basedcompanieswhereChineselawprohibitsorrestrictsdirectforeigninvestmentintheoperatingcompanies.DuringtheperiodwhentheVIEstructurewasinplace,ShinecodidnotdirectlyholdanyequityownershipoftheVIEs.Instead,ShinecoreceivedtheeconomicbenefitsoftheformerVIEs’businessoperationsthroughcertaincontractualarrangements.ShinecoevaluatedtheguidanceinFinancialAccountingStandardsBoard(“FASB”)ASC810andconcludedthatShinecowastheprimarilybeneficiaryoftheformerVIEsandtheformerVIEs’subsidiariesbecauseofthesecontractualarrangementsduringtheperiodwhentheVIEstructurewasinplace.Accordingly,underU.S.GenerallyAcceptedAccountingPrinciples(the“U.S.GAAP”),thefin