Tantech Holdings Ltd announced that it has entered into a securities purchase agreement with institutional investors to raise 4,200,000 units at an issue price of $0.50 per unit for the gross proceeds of $2,100,000 on April 22, 2024. In connection with the private placement, the Company will issue an aggregate of 4,200,000 units and pre-funded units. The purchase price per unit is $0.50.

The pre-funded units will be sold at the same purchase price as the units, less the pre-funded warrant exercise price of $0.0001. Each unit and pre-funded unit will consist of one common share (or pre-funded warrant), two Series A warrants each exercisable into one common share at an exercise price of $0.75 per share, which exercise price is subject to standard adjustments for dividends, splits and similar events and is also subject to adjustment for certain dilutive issuances, upon reset following certain capitalization events (including a reverse stock split) and upon reset on a Reset Date (as defined in the Series B Warrant), and one Series B warrant with an exercise price of $0.0001 per common share to purchase such amount of common shares as will be determined on the Reset Date (as defined in the Series B Warrant). The Series A and Series B warrants will be exercisable upon issuance and will have a term of 5.5 years from the date of issuance.