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Tantech Holdings Ltd Share Consolidation Report: Key Insights & NASDAQ Compliance

$TANH
Form 6-K
Filed on: 2025-02-10
Source
Tantech Holdings Ltd Share Consolidation Report: Key Insights & NASDAQ Compliance

Here are the key insights and information extracted from the financial report (Form 6-K) of Tantech Holdings Ltd:

  1. Company Overview:
  • Name: Tantech Holdings Ltd
  • Location: No. 10 Cen Shan Road, Shuige Industrial Zone, Lishui City, Zhejiang Province, People's Republic of China.
  • Registration: Company is registered in the British Virgin Islands.
  1. Reporting Period:
  • Date of Report: February 10, 2025.
  • Commission File Number: 001-36885.
  1. Share Consolidation:
  • Proposal Approved: On January 21, 2025, the Board of Directors approved a share consolidation at a ratio of one-for-forty.
  • Effective Date: The share consolidation will take effect on February 13, 2025.
  • Reason for Consolidation: The consolidation is intended to meet NASDAQ continued listing standards related to the minimum bid price, as the Company was previously advised of non-compliance.
  1. Impact of Share Consolidation:
  • Trading Adjustments: Post-consolidation, shares will continue trading under NASDAQ symbol "TANH" with a new CUSIP number G8675X156.
  • Conversion of Shares: The number of shares held by each shareholder will be automatically converted to whole shares based on the consolidation ratio. No fractional shares will be issued; the Company may redeem fractional shares at market value.
  • Estimated Shares Outstanding: Prior to the consolidation, 47,556,466 common shares are outstanding, which will reduce to approximately 1,188,911 shares post-consolidation.
  1. Shareholder Actions:
  • Shareholders with shares held electronically will not need to take action, as their accounts will be adjusted automatically.
  • Shareholders with paper certificates may voluntarily submit them to the Company’s transfer agent for a new certificate reflecting the consolidation.
  1. Additional Information:
  • The Company will not need to amend its memorandum and articles of association for this consolidation.
  • The Company has issued a press release regarding these matters on the same date as this report.
  1. Signatory:
  • The report is signed by Wangfeng Yan, Chief Executive Officer of Tantech Holdings Ltd.

This information is crucial for investors and stakeholders to understand the implications of the share consolidation and the company's compliance with NASDAQ listing requirements.