LISHUI, China, May 27, 2021 /PRNewswire/ -- Tantech Holdings Ltd
(NASDAQ: TANH) ("Tantech" or the "Company"), a clean energy company
in China, today announced that it
has agreed to sell 5,380,000 of the Company's common shares (the
"Shares") to various purchasers (the "Purchasers") in a private
placement transaction (the "Private Placement") at US$1.30 per share for US$ $6,994,000. The Company intends to use the
net proceeds from the Private Placement for general corporate and
working capital needs. The Private Placement is expected to close
on or before June 11, 2021, subject
to satisfaction of customary closing conditions.
The Shares are being 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.
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 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.
About Tantech Holdings Ltd
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 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.
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 the
closing of the Private Placement, 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.
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SOURCE Tantech Holdings Ltd.