Business
Tantech Prices $10.0 Million Underwritten Public Offering of Common Shares and Pre-Funded Warrants to Purchase Common Shares
LISHUI, China, March 16, 2022 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company"), today announced the pricing of an underwritten
About this update from Tantech Holdings Ltd.
[{"type":"text","content":"LISHUI, China, March 16, 2022 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) (\"Tantech\" or the \"Company\"), today announced the pricing of an underwritten public offering of 20,000,000 common shares and prefunded warrants to purchase common shares (the \"Offering\"), with gross proceeds to the Company expected to be approximately $10.0 million, before deducting underwriting discounts and commissions and other estimated expenses payable by the Company. The pre-funded warrants are offered at the same $0.50 price per share as the common shares, less the $0.001 per share exercise price of each pre-funded warrant. The Company intends to use the net proceeds from this offering for general corporate purposes, including, but not limited to, working capital and other business opportunities.\nIn addition, the Company granted the underwriters a 45-day option to purchase an additional 15.0% of common shares at the public offering price to cover over-allotments, if any. If this option is exercised in full, the gross proceeds of the over-allotment would be approximately $11.5 million before deducting underwriting discounts, commissions and other offering expenses.\nThe closing of the Offering is expected to occur on March 18, 2022, subject to customary closing conditions.\nAegis Capital Corp. is acting as the sole book-running manager for the offering.\nThe 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 preliminary prospectus supplement and accompanying prospectus describing the terms of the Offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at [email protected], or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference in such prosp...