TANH - Tantech Holdings plummets on pricing $10M registered direct offering

Tantech Holdings (TANH) -48.9% PM, inked a securities purchase agreement with institutional investors to purchase ~$10M of its common shares and registered warrants in a registered direct offering.Tantech has agreed to sell to the institutional investors 6.06M common shares priced at $1.65/share, with registered warrants for 2.75M common shares.Agreement also enables unregistered warrants to purchase common shares in a concurrent private placement; agreed to issue unregistered warrants to purchase up to 3.3M shares.Registered and the unregistered warrants will be immediately exercisable; 5 years expiry from the issuance date with an exercise price of $1.81/share.Net proceeds to be used for working capital and general business purposes.Offer expected to close on or about Nov.24, 2020.

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Tantech Holdings plummets on pricing $10M registered direct offering