LISHUI, China, March 22, 2022 /PRNewswire/ -- Tantech Holdings
Ltd (NASDAQ: TANH) ("Tantech" or the "Company"), today announced
that the underwriter of its previously announced underwritten
public offering has exercised its option to purchase an additional
2,880,000 common shares at a price of $0.50 per common share. Total gross proceeds to
the Company from the offering, including the funds received from
the prior closing and exercise of this option, are approximately
11.4 million, before deducting underwriting discounts, commissions,
and other offering expenses payable by the Company.
Aegis Capital Corp. acted as the sole book-running manager
for the offering.
The Offering is being made pursuant to an effective shelf
registration statement on Form F-3 (No 333-248197) previously filed
with the U.S. Securities and Exchange Commission (the "SEC") and
declared effective by the SEC on August 31,
2020. A final prospectus supplement and accompanying
prospectus describing the terms of the offering have been filed
with the SEC and made available on the SEC's website located at
http://www.sec.gov or by contacting Aegis Capital Corp.,
Attention: Syndicate Department, 810 7th Avenue, 18th floor,
New York, NY 10019, by email at
syndicate@aegiscap.com or by telephone at (212) 813-1010.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Tantech Holdings Ltd
For the past decade, Tantech has been a highly specialized
high-tech enterprise producing, researching and developing bamboo
charcoal-based products with an established domestic and
international sales and distribution network. Since 2017, when the
Company acquired 70% of Shangchi Automobile, a vehicle manufacturer
based in Zhangjiagang City, Jiangsu
Province, it has manufactured and sold vehicles. The Company
established two new subsidiaries, Lishui Smart New Energy
Automobile Co., Ltd. and Zhejiang Shangchi New Energy Automobile
Co., Ltd., in November 2020, to
produce and sell street sweepers and other electric vehicles. The
Company is fully ISO 90000 and ISO 14000 certified and has received
a number of national, provincial and local honors, awards and
certifications for its products and scientific research efforts.
The Company's subsidiary, First International Commercial Factoring
(Shenzhen) Co., LTD, is engaged in
commercial factoring for businesses in and related to its supply
chain. For more information, please visit:
http://ir.tantech.cn.
Forward-Looking Statements
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning the sales,
plans, objectives, goals, strategies, future events or performance,
and underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulations, and other risks contained in reports filed by the
Company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the Company, are expressly qualified by
this cautionary statement and any other cautionary statements which
may accompany the forward-looking statements. In addition, the
Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof.
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SOURCE Tantech Holdings Ltd.
