Tantech Holdings Ltd. - TANH STOCK NEWS

Tantech Holdings Ltd (NASDAQ: TANH) reported a 30.7% increase in revenue for 2021, reaching $55.3 million, and a 133.0% increase in gross profit to $10.4 million. The gross margin expanded by 8.3 percentage points to 18.9%. Despite global supply chain challenges, the company showed strong growth in its EV segment, with a 382.4% revenue increase to $1.9 million. As of December 31, 2021, current assets stood at $105.8 million against $21.8 million in current liabilities, giving a robust current ratio of 4.9:1.

Tantech Holdings Ltd (NASDAQ: TANH) announced a new order for 6 customized midibuses from its subsidiary Shangchi Automobile Co., Ltd., destined for Nigeria with deliveries expected in July 2022. The high-end diesel vehicles feature luxurious amenities including USB charging, climate control, and advanced safety features. CEO Wangfeng Yan emphasized increasing demand driven by economic reopening and fuel costs, aiming to enhance revenue and reduce emissions. This order signifies Tantech's strategy to broaden its market presence and bolster shareholder value.

Tantech Holdings Ltd (NASDAQ: TANH) received a notice of non-compliance from Nasdaq on May 18, 2022, due to the late filing of its annual report on Form 20-F for the fiscal year ending December 31, 2021. This situation puts the company at risk of non-compliance with Nasdaq Listing Rule 5250(c)(1), but does not immediately affect the trading of its shares. Tantech has 60 days to submit a compliance plan and can be granted up to 180 days to regain compliance if accepted.

Tantech Holdings Ltd (NASDAQ: TANH) announced on April 28, 2022, that it received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, as its shares traded below $1.00 for 30 consecutive days. The Company has until October 25, 2022, to regain compliance, which can be achieved by maintaining a closing bid price of at least $1.00 for 10 consecutive business days. If compliance is not regained, the Company may qualify for an additional 180-day grace period.

Tantech Holdings Ltd (NASDAQ: TANH) announced that its subsidiary, Shangchi Automobile Co., Ltd., secured an order for 10 customized midibuses from a customer in Ecuador, slated for delivery in May 2022. These vehicles feature a luxurious interior, advanced safety features, and are designed to cater to the increasing demand for economical, group travel due to rising fuel costs. CEO Wangfeng Yan highlighted a growing interest in their vehicle offerings as the global economy reopens and noted the company's efforts in promoting environmentally friendly transportation.

Tantech Holdings Ltd (NASDAQ: TANH) announced the exercise of an underwriter's over-allotment option, resulting in the acquisition of an additional 2,880,000 common shares priced at $0.50 each. This brings total gross proceeds from the public offering to approximately $11.4 million, prior to expenses. Aegis Capital Corp. served as the sole book-running manager for this offering, conducted under an effective shelf registration statement with the SEC. The company specializes in bamboo charcoal-based products and electric vehicles, and operates subsidiaries focused on manufacturing.

Tantech Holdings Ltd (NASDAQ: TANH) announced a new order for 10 midibuses from its subsidiary, Shangchi Automobile, destined for Nigeria. Set to ship in Q2 2022, these customizable vehicles feature advanced amenities such as air conditioning, USB charging ports, and safety enhancements. CEO Wangfeng Yan emphasized the importance of larger volume orders and the company’s strong market position despite supply chain challenges. Tantech, specialized in bamboo charcoal products, has shifted focus towards vehicle manufacturing since acquiring Shangchi in 2017.

Tantech Holdings Ltd. (NASDAQ:TANH) has successfully completed a $10 million underwritten public offering of common shares, with Aegis Capital Corp. serving as the sole bookrunner. The company, established in high-tech bamboo charcoal products, has expanded into the automotive sector since acquiring a 70% stake in Shangchi Automobile in 2017. Recently, it established subsidiaries for producing electric vehicles and street sweepers, further diversifying its portfolio. Tantech is ISO certified and recognized for its innovations.

Tantech Holdings Ltd (NASDAQ: TANH) has successfully closed an underwritten public offering of 20 million common shares and prefunded warrants, generating approximately $10.0 million in gross proceeds. The shares were offered at $0.50 each, with an exercise price of $0.001 for the pre-funded warrants. The funds will be allocated for general corporate purposes, including working capital. Additionally, underwriters have a 45-day option to purchase 15% more shares, potentially raising an additional $11.5 million.