LISHUI, China, 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.
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.
This article was shared with Prittle Prattle News as a Press Release.
