Tantech Holdings Ltd Announces $2.1 Million Private Placement

Core Points - Tantech Holdings Ltd has entered into a securities purchase agreement to raise approximately $2.1 million from institutional investors, with the closing expected on April 24, 2024 [1] - The company will issue a total of 4,200,000 units at a purchase price of $0.50 per unit, which includes common shares and warrants [2] - Maxim Group LLC is acting as the sole placement agent for this offering [3] Company Overview - Tantech is a high-tech enterprise specializing in bamboo charcoal-based products and has a well-established sales and distribution network both domestically and internationally [5] - Since acquiring 70% of Shangchi Automobile in 2017, the company has expanded into vehicle manufacturing and sales, including electric vehicles [5] - Tantech has established subsidiaries focused on producing street sweepers and other electric vehicles, and holds ISO 90000 and ISO 14000 certifications [5]