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Tantech Holdings Ltd. (NASDAQ: TANH) is a pioneering enterprise dedicated to the development and manufacture of bamboo-based charcoal products for various applications such as industrial energy, household cooking, heating, purification, agriculture, and cleaning. Originating in the People's Republic of China, Tantech has expanded its market internationally, earning a reputation for innovation and quality.
The company operates under three main segments:
- Consumer Products: Known for its Charcoal Doctor brand, this segment offers a diverse range of products including air purifiers, humidifiers, automotive air purification accessories, underfloor humidity control items, pillows and mattresses, wardrobe deodorizers, mouse pads, wrist mats, refrigerator deodorants, charcoal toilet cleaner disks, liquid charcoal cleaners, shoe insoles, and decorative charcoal gifts.
- Trading: This segment manages the export of various charcoal products, bolstering Tantech's international presence.
- Electric Vehicles (EV): Since acquiring a majority share of Shangchi Automobile in 2017, Tantech has ventured into the electric vehicle industry. The company manufactures and markets electric vehicles, including automatic high-speed street sweepers. It also operates subsidiaries like Lishui Smart New Energy Automobile Co., Ltd., and Zhejiang Shangchi New Energy Automobile Co., Ltd., to further this goal.
Recent achievements include significant export contracts for midibuses to Nigeria and school buses to Ecuador, reflecting Tantech's growing influence in international markets. The company has also signed a major agreement to supply midibuses to Malaysia, indicating a robust demand for its high-quality, eco-friendly transportation solutions.
Financially, Tantech has secured an additional $2.1 million through a securities purchase agreement with institutional investors, expected to bolster its growth and operational capabilities. These investments underscore the company's commitment to expanding its market reach and enhancing its product offerings.
Tantech's adherence to quality and environmental standards is evidenced by its full ISO 90000 and ISO 14000 certifications. The company has received numerous national, provincial, and local honors for its products and scientific research efforts.
Despite recent challenges, such as receiving a notice of non-compliance from the Nasdaq Stock Market LLC for delayed financial reporting, Tantech remains steadfast in its mission. The company has a plan to regain compliance and continues to prioritize innovation, quality, and customer satisfaction.
Tantech Holdings Ltd (NASDAQ: TANH) announced a public offering of 20 million common shares and pre-funded warrants, projected to raise approximately $10 million before expenses. The offering price is set at $0.50 per share, with a $0.001 exercise price for the warrants. The funds will support general corporate purposes, including working capital. Additionally, underwriters have a 45-day option to purchase an extra 15% of shares, potentially raising gross proceeds to $11.5 million if fully exercised. The offering is expected to close on March 18, 2022.
Tantech Holdings Ltd (NASDAQ: TANH) announced a proposed public offering to raise funds for general corporate purposes including working capital and business opportunities. The offering is contingent upon market conditions, and there are no guarantees regarding its completion or specific terms. Aegis Capital Corp. serves as the sole book-running manager for this offering, which is made under an effective shelf registration statement with the SEC. Interested parties can find further details in the prospectus supplement to be filed with the SEC.
Tantech Holdings Ltd (NASDAQ: TANH) announced on March 14, 2022, that it has regained compliance with NASDAQ's minimum bid price requirement, as confirmed by NASDAQ. This matter is now officially closed. Tantech specializes in bamboo charcoal-based products and has expanded into automobile manufacturing, currently owning 70% of Shangchi Automobile. The company has also established two subsidiaries for producing electric vehicles and has received multiple certifications and awards for its products.
Tantech Holdings Ltd (NASDAQ: TANH) announced it has received an extension from NASDAQ granting an additional 180 days to comply with the minimum bid price requirement, now due by August 29, 2022. To regain compliance, TANH's closing bid price must reach at least $1.00 per share for ten consecutive trading days. The company specializes in bamboo charcoal-based products and has expanded into electric vehicle production through its subsidiaries.
Tantech Holdings Ltd (NASDAQ: TANH) announced a 1-for-10 share consolidation on February 24, 2022, aimed at regaining compliance with NASDAQ listing rules. Effective February 28, 2022, the consolidation will decrease the number of outstanding common shares from approximately 63.99 million to about 6.39 million. The authorized common shares will also reduce from 600 million to 60 million. The new CUSIP number will be G8675X123, while trading continues under the symbol TANH.
Tantech Holdings Ltd (NASDAQ: TANH) announced a new order for 10 customizable midibuses to be exported to Ecuador. This order, secured by its subsidiary Shangchi Automobile Co., Ltd., marks a significant sales achievement for the company. The midibuses are designed for school use, featuring advanced safety and comfort attributes such as a 5-speed manual transmission, air conditioning, and USB charging ports. CEO Wangfeng Yan emphasized the importance of such multi-vehicle orders for revenue growth and shareholder value.
Tantech Holdings Ltd (NASDAQ: TANH) announced a milestone order for twelve SC-120A driverless street sweepers from a real estate management company in China. This order follows successful factory testing and quality control reviews. Priced at RMB 300,000 per unit, the SC-120A features advanced technologies for autonomous operation, enhancing cleaning performance while reducing labor costs. CEO Wangfeng Yan highlighted that the sweeper's innovative design will potentially increase revenue contributions and market expansion opportunities. Additionally, a third-generation model with improved features is in development.
Tantech Holdings Ltd has successfully completed a $13.7 million public offering of common stock. This move aims to enhance its financial position and fund operations, particularly following its acquisition of a 70% stake in Shangchi Automobile, expanding into electric vehicle production and sales. With certifications like ISO 9000 and ISO 14000, Tantech demonstrates commitment to quality and environmental standards. The company also operates a factoring subsidiary to support its supply chain. This capital raise may bolster growth and innovation strategies moving forward.
Tantech Holdings Ltd (NASDAQ: TANH) has successfully closed an underwritten public offering, raising approximately $13.7 million from the sale of 21,120,509 common shares at $0.65 per share. The net proceeds will be utilized for general corporate purposes, including working capital and new business opportunities. Additionally, underwriters have a 45-day option to buy up to 3,168,076 extra shares, potentially increasing total proceeds to $15.7 million. This offering falls under an effective shelf registration statement previously filed with the SEC.
Tantech Holdings Ltd (NASDAQ: TANH) announced an underwritten public offering of 21,120,509 common shares priced at $0.65 per share, aiming to raise approximately $13.7 million before expenses. The funds will be used for general corporate purposes, including working capital. The underwriters have a 45-day option to purchase an additional 3,168,076 shares, potentially increasing gross proceeds to $15.7 million. Closing is anticipated on December 6, 2021.
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