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LISHUI, China - Tantech Holdings Ltd (NASDAQ: TANH), a specialized high-tech enterprise currently trading near its 52-week low of $0.12, announced a share consolidation of its common shares at a one-for-forty ratio, set to take effect on the opening of trading on February 13, 2025. The consolidation aims to bring the company into compliance with NASDAQ Marketplace Rule 5550(a)(2) to maintain its listing status. According to InvestingPro analysis, the company maintains a strong financial health score despite recent price volatility.
From February 13, Tantech’s common shares will continue to trade on the Nasdaq Capital Market under the ticker "TANH," albeit with a new CUSIP Number. The move will see every forty common shares currently issued automatically convert into one common share. Shareholders will not need to take any action, and no fractional shares will be issued. Instead, fractions will be redeemed by the company at the closing price of the common shares on the effective date. InvestingPro data reveals the company appears undervalued at current levels, with strong fundamentals including a healthy current ratio of 6.99 and positive revenue growth of 6.14% over the last twelve months.
The consolidation will significantly reduce the number of Tantech’s outstanding common shares from approximately 47.56 million to nearly 1.19 million, after accounting for fractional share redemptions. Despite this reduction, the authorized number of shares the company can issue remains unlimited and unchanged.
Tantech has been active for over a decade, focusing on bamboo charcoal-based products and, since 2017, on manufacturing and selling vehicles through its majority-owned subsidiary Shangchi Automobile. The company expanded its automotive operations in 2020 with two new subsidiaries aimed at producing and selling electric vehicles, including street sweepers. With a price-to-book ratio of just 0.01 and positive earnings per share of $1.06, the company maintains profitability despite market challenges. Tantech prides itself on its ISO certifications and has received recognition for its products and research efforts. The company’s subsidiary, First International Commercial Factoring (Shenzhen) Co., LTD, is involved in commercial factoring for businesses related to its supply chain.
This press release includes forward-looking statements, which are subject to various risks and uncertainties, including those related to demand for products and services, technological changes, competition, government regulations, and economic conditions. These statements are not guarantees of future performance, and the company has disclaimed any obligation to update them. The information in this article is based on a press release statement from Tantech Holdings Ltd.
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