Business
Tantech Prices $13.7 Million Underwritten Public Offering of Common Shares
LISHUI, China, Dec. 2, 2021 /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, Dec. 2, 2021 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) (\"Tantech\" or the \"Company\"), today announced the pricing of an underwritten public offering of common shares, with gross proceeds to the Company expected to be approximately $13.7 million, before deducting underwriting discounts and commissions and other estimated expenses payable by the Company. The Offering equates to 21,120,509 of the Company's common shares at a price of $0.65 per share. 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 3,168,076 additional 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 offering would be approximately $15.7 million before deducting underwriting discounts, commissions and other offering expenses. \nThe closing of the Offering is expected to occur on December 6, 2021, 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 prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering. \nThis press release shall no...