Tantech Holdings Ltd (NASDAQ:TANH) continues to move up in the pre-market session on Monday after soaring 5% in Friday’s trading session.
Major Trigger:
Tantech Announces Closing of US$7.0 Million Offering
Key Highlights:
- announced that it closed a previously announced private placement transaction (the “Private Placement”), raising approximately US$7.0 million in gross proceeds, from the sale of 5,380,000 of the Company’s common shares (the “Shares”) to various purchasers (the “Purchasers”), priced at US$1.30 per share.
- The Shares were 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.
Market Reaction
As of 7:58, TANH stock moved up 0.81% to $1.25. The stock has traded 16K so far in the pre-market session.
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