Tantech Holdings Ltd Receives NASDAQ Minimum Bid Price Requirement Extension

Rhea-AI Summary

Tantech Holdings (NASDAQ: TANH) has received an extension from NASDAQ to meet the minimum bid price requirement. The company now has until February 24, 2025, to regain compliance. To achieve this, Tantech's common shares must close at $1.00 or higher for at least ten consecutive business days. This extension provides Tantech with additional time to address its stock price issues and maintain its NASDAQ listing.

Positive

• Tantech received a 180-day extension from NASDAQ to meet minimum bid price requirement
• Company has until February 24, 2025 to regain compliance

Negative

• Tantech's stock price is currently below the $1.00 minimum bid requirement
• Failure to meet the requirement by the new deadline could result in delisting from NASDAQ

LISHUI, China, Aug. 28, 2024 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company"), announced today that on August 27, 2024, it received notification from The Nasdaq Stock Market LLC ("NASDAQ") confirming the Company has been granted an additional 180 calendar day period for compliance under its minimum bid price requirement through February 24, 2025. To regain compliance with NASDAQ's minimum bid price requirement, the closing bid price of the Company's common shares needs to be at least $1.00 per share or greater for at least ten consecutive business days by February 24, 2025. 

About Tantech Holdings Ltd 

For the past decade, Tantech has been a highly specialized high-tech enterprise producing, researching and developing bamboo charcoal-based products with an established domestic and international sales and distribution network. Since 2017, when the Company acquired 70% of Shangchi Automobile, a vehicle manufacturer based in Zhangjiagang City, Jiangsu Province, it has manufactured and sold vehicles. The Company established two new subsidiaries, Lishui Smart New Energy Automobile Co., Ltd. and Zhejiang Shangnilai Technology Co., Ltd (formerly, Zhejiang Shangchi New Energy Automobile Co., Ltd.), in November 2020, to produce and sell street sweepers and other electric vehicles. The Company is fully ISO 90000 and ISO 14000 certified and has received a number of national, provincial and local honors, awards and certifications for its products and scientific research efforts. The Company's subsidiary, First International Commercial Factoring (Shenzhen) Co., LTD, is engaged in commercial factoring for businesses in and related to its supply chain. For more information, please visit: https://tanhtech.com. 

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the sales, plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the Company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

Tantech Holdings Ltd
Investor Relations
Tel: +86 (578) 226-2305
ir@tantech.cn 

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SOURCE Tantech Holdings Ltd.

FAQ

What is the new deadline for Tantech Holdings (TANH) to meet NASDAQ's minimum bid price requirement?

Tantech Holdings (TANH) has until February 24, 2025, to meet NASDAQ's minimum bid price requirement.

How can Tantech Holdings (TANH) regain compliance with NASDAQ's minimum bid price requirement?

Tantech Holdings (TANH) can regain compliance if its closing bid price is at least $1.00 per share or greater for at least ten consecutive business days by February 24, 2025.

What happens if Tantech Holdings (TANH) fails to meet NASDAQ's minimum bid price requirement by the new deadline?

If Tantech Holdings (TANH) fails to meet the requirement by February 24, 2025, it could face delisting from the NASDAQ stock exchange.

How long of an extension did Tantech Holdings (TANH) receive from NASDAQ for the minimum bid price requirement?

Tantech Holdings (TANH) received an additional 180 calendar day period for compliance with NASDAQ's minimum bid price requirement.