Tantech Holdings Announces 1-for-40 Common Share Consolidation

Core Viewpoint - Tantech Holdings Ltd announced a share consolidation at a ratio of one-for-forty to regain compliance with NASDAQ listing requirements, effective February 13, 2025 [1][2]. Group 1: Share Consolidation Details - The share consolidation will automatically convert every forty common shares into one issued and outstanding common share without requiring action from shareholders [3]. - Following the consolidation, the number of common shares outstanding will decrease from 47,556,466 to approximately 1,188,911, subject to fractional share redemption [4]. - The authorized number of common shares will remain unlimited and unchanged [4]. Group 2: Company Background - Tantech Holdings Ltd specializes in producing bamboo charcoal-based products and has a well-established sales and distribution network both domestically and internationally [5]. - The company acquired 70% of Shangchi Automobile in 2017 and has since been involved in manufacturing and selling vehicles [5]. - Tantech established two subsidiaries in November 2020 to produce and sell electric vehicles, including street sweepers [5].