LISHUI, China, Sept. 29, 2017 /PRNewswire/ -- Tantech Holdings
Ltd. (TANH) ("Tantech" or the "Company"), a leading clean energy
company in China, today announced that it closed on
September 29, 2017 a previously
announced securities purchase agreement with certain institutional
investors, raising approximately $6.5
million from selling its common stock at a price of
$3.45 per share. After deducting
offering expenses, the net proceeds will be used for general
working capital purposes.
The Company issued a total of 1,891,307 common shares to
institutional investors. As part of the transaction, the Company
also issued to the investors warrants for the purchase of up to
945,655 common shares at an exercise price
of $4.25 per share, which warrants have a term of 5-year
from the date of issuance.
FT Global Capital acted as the exclusive placement agent for the
transaction.
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission and has become
effective. 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.
Established in 2001 and headquartered in Lishui
City, Zhejiang Province, China, Tantech Holdings Ltd.,
together with its subsidiaries, develops and manufactures
bamboo-based charcoal products, including a variety of branded
consumer products and electric double-layer capacitor ("EDLC")
carbon products for industrial energy applications. The Company
aims to transform itself from a bamboo-based charcoal products
producer to a vertically integrated company along the EDLC Carbon -
power battery - specialty new energy vehicle value chain. For more
information please
visit: http://www.tantechholdings.com.
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 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.
For more information please contact:
Tantech Holdings Ltd.
Ms. Ye Ren
IR Manager
+86-578-261-2869
ir@tantech.cn
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SOURCE Tantech Holdings Ltd.