Business
Tantech Announces Closing of US$7.0 Million Offering
LISHUI, China, June 7, 2021 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company"), a clean energy company in China, today announced
About this update from Tantech Holdings Ltd.
[{"type":"text","content":"LISHUI, China, June 7, 2021 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) (\"Tantech\" or the \"Company\"), a clean energy company in China, today announced that it closed a previously announced private placement transaction (the \"Private Placement\"), raising approximately US$7.0 million in gross proceeds, from the sale of 5,380,000 of the Company's common shares (the \"Shares\") to various purchasers (the \"Purchasers\"), priced at US$1.30 per share. \nThe Shares were sold in transactions exempt from registration under the Securities Act of 1933, as amended (the \"Securities Act\"), in reliance on Regulation S thereunder. Each of the Purchasers understands that the Shares have not been registered under the Securities Act. Such Purchaser will not sell or otherwise dispose of the Shares without registration under the Securities Act, and under applicable state securities or \"Blue Sky\" laws, or pursuant to an exemption therefrom. \nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares 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.\nAbout Tantech Holdings Ltd \nFor 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 in November 2020, with the plan 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 quality products and scientific research efforts. For more information please visit: http://ir.tantech.cn. \nForward-Looking Statements\nThis news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the closing of the Private Placement, plans,...