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Tantech Holdings Ltd (TANH) stock is bullish today: What’s Going On?

Shares of the Tantech Holdings Ltd (TANH) stock were bullish in the pre-market today on May 28, 2021, following the announcement of a $7.0 million private investment by Tantech Holdings. TANH’s stock price saw a surge of 1.72% to reach $1.18 a share at the time of this writing. The per-share price of TANH stock was $1.16 with no loss or gain at the previous closing. Let’s further discuss the current happenings.

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Private Placement:

Tantech Holdings Ltd (TANH),  a manufacturer of bamboo-based charcoal products in the People’s  Republic of China, on May 27, 2021, announced that it is willing to sell 5,380,000 of its shares to various purchasers. The per-share price under this private placement is US$1.30 which would result in the net proceeds of US$ $6,994,000.Tantech stock would use net proceeds resulting from private placement in its general corporate purposes and working capital needs. The private placement would close or before June 11, 2021.

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Financial View of TANH stock:

A month ago, TANH  stock did announce full-year 2020 financial results the highlights of which are given below.

Expenses for TANH stock in 2020:

Wrap Up:

Investors are responding to the announcement of a $7.0 million private placement by the TANH stock. Due to the COVID-19 outbreak, the business of Tantech Holdings was adversely affected as the government imposed strict lockdown in the country to cope with COVID-19. However, Tantech generated significant revenue from its charcoal-based products which include charcoal masks, sanitation, and air purification products.

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