Tantech Holdings Ltd. - TANH STOCK NEWS

Tantech Holdings Ltd (NASDAQ: TANH) announced a successful private placement, raising $2.8 million by selling 1,000,000 common shares at $2.8 per share. The proceeds will be utilized for working capital and general corporate purposes, following an agreement with non-U.S. purchasers. The shares sold are exempt from registration under the Securities Act. Since expanding into the clean vehicle industry in 2017 and establishing subsidiaries for electric vehicles and biodegradable packaging, Tantech is poised for further growth. The company maintains ISO certifications and has received numerous awards for its products.

Tantech Holdings Ltd (NASDAQ: TANH) announced a new contract to export 10 customized high-end midibuses to Nigeria, marking its third export order to Africa in recent months. The midibuses, featuring 15 air-conditioned seats and energy-efficient designs, target various commercial sectors including transportation and tourism. CEO Wangfeng Yan expressed optimism about growing demand in Nigeria due to increasing urbanization and income levels. The company emphasizes technological improvements, sustainability, and profitability for bus operators as pivotal in their strategy to enhance customer satisfaction.

Tantech Holdings Ltd (NASDAQ: TANH) reported a strong financial performance for the six months ended June 30, 2022. The company achieved total revenues of approximately $27.0 million, marking a 31.0% increase year-over-year, while successfully reducing total operating expenses by 80.3% to $1.9 million. Net income soared to approximately $2.1 million, a significant turnaround from a $6.6 million net loss in the same period last year. Tantech holds a healthy cash position of about $10.8 million and a commendable current ratio of 6.6:1.

Tantech Holdings Ltd (NASDAQ: TANH) announced that its subsidiary, Zhejiang Tantech Bamboo Charcoal Co., Ltd., received a certificate from the ISO/TC 296 for its role in establishing new international standards for bamboo-based activated carbon (ISO 5946:2022). This certification highlights Tantech's commitment to innovation and sustainable practices. The company aims to enhance its competitiveness through improved R&D and quality assurance. Tantech has previously received three ISO certifications for bamboo charcoal products, supporting its foundational role in the industry.

Tantech Holdings Ltd (NASDAQ: TANH) announced on November 30, 2022, that it has regained compliance with NASDAQ's minimum bid price requirement under Listing Rule 5550(a)(2). NASDAQ confirmed that this issue is now resolved, allowing the company to maintain its listing status. Tantech has a strong focus on products based on bamboo charcoal and has expanded into the clean vehicle and biodegradable packaging industries. The company has also established various subsidiaries to enhance its market reach in North America and has received multiple certifications for its products.

Tantech Holdings Ltd (NASDAQ: TANH) announced a second order from Nigeria for 6 fully customized midibuses, to be delivered within 60 days. The new midibuses feature advanced technology enhancements for improved power and energy efficiency, and include environmentally friendly dual fuel capabilities. CEO Wangfeng Yan highlighted the company’s focus on growth strategies and customer satisfaction, aiming to increase market share in the global bus market. Tantech continues to expand its international operations, building a strong brand and delivering competitive value.

Tantech Holdings Ltd (NASDAQ: TANH) announced a one-for-24 share consolidation approved by the Board on October 28, 2022, to regain NASDAQ compliance. Effective November 9, 2022, common shares will trade under the same symbol but with a new CUSIP Number. This consolidation will reduce the outstanding shares from 29,278,601 to approximately 1,219,941. The authorized shares will also decrease from 60,000,000 to 2,500,000. No fractional shares will be issued; they will be redeemed by the Company.

Tantech Holdings Ltd (NASDAQ: TANH) announced it received a 180-day extension from NASDAQ to comply with the minimum bid price of $1.00 per share, lasting until April 24, 2023. To aid compliance, the Board approved a one-for-twenty-four reverse stock split, effective around November 4, 2022. This action aims to increase the share price to align with NASDAQ standards. Tantech, specializing in bamboo charcoal products and electric vehicles, continues to maintain its trading on NASDAQ under the symbol TANH following the split.

Tantech Holdings Ltd (NASDAQ: TANH) announced its 2022 annual meeting of shareholders scheduled for December 8, 2022, at 10:00 A.M. local time in Hangzhou, China. Shareholders as of the record date, November 7, 2022, are eligible to vote. Proposals for inclusion in the proxy statement must be received by October 31, 2022. The company, which specializes in bamboo charcoal products and electric vehicles, aims to foster shareholder engagement and decision-making during this meeting. Further details are available on Tantech's official website.