Tantech Holdings Ltd Announces $2.1M Private Placement
Portfolio Pulse from Benzinga Newsdesk
Tantech Holdings Ltd (NASDAQ:TANH) announced a private placement to raise $2.1 million, issuing 4.2 million units at $0.50 each, including common shares and warrants, with Maxim Group LLC as the placement agent. The closing is expected on April 24, 2024.
April 22, 2024 | 7:59 pm
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Tantech Holdings Ltd is raising $2.1 million through a private placement, issuing units that include common shares and warrants, with a closing date expected on April 24, 2024.
The private placement is likely to have a positive short-term impact on TANH's stock price as it demonstrates investor confidence and provides the company with additional capital. However, the issuance of new shares could lead to dilution of existing shareholders' equity.
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