Tantech Raises $2.15M via 7.17M Unit Offering with Series E and F Warrants
Tantech sold 7,166,671 common units in a registered direct offering and concurrent private placement, raising $2.15 million through units priced at $0.30 each. Each unit includes one common share, one Series E warrant exercisable for three shares at $0.30 and one Series F warrant exercisable for three shares at $0.35.
1. Offer Details
Tantech completed a registered direct offering and concurrent private placement on March 31, issuing 7,166,671 common units at $0.30 each to raise aggregate gross proceeds of $2.15 million. The offering was conducted under an effective Form F-3 shelf registration, with the private placement sold under Regulation S to non-U.S. investors.
2. Securities Issued
Each common unit comprises one common share, one Series E warrant to purchase three shares at $0.30 per share and one Series F warrant to purchase three shares at $0.35 per share. The warrants provide investors with potential equity upside, subject to future exercise.
3. Use of Proceeds
Tantech intends to deploy the net proceeds alongside existing cash balances for general corporate purposes and working capital, supporting its bamboo charcoal product development and operational needs.