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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 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.
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.
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