TANH · Tantech Holdings Ltd

Tantech Holdings Ltd has completed a financing transaction through a dual structure: a registered direct offering of Class A shares under an effective Form F-3 shelf registration and a concurrent private placement of warrants under Regulation S. This structure allowed the company to access capital from both registered and exempt markets simultaneously. The inclusion of warrants with exercise prices at or above the offering price provides potential future equity capital if exercised, though the warrants are restricted from U.S. markets under Regulation S. The lock-up agreement demonstrates management's commitment to market stability post-transaction by preventing immediate sales by certain shareholders. The company's stated use of proceeds for general corporate purposes and working capital indicates this financing is intended to support ongoing operations rather than specific strategic initiatives.