TANTECH HOLDINGS LTD current report, Q2 FY2023

Business Context and Reporting Period

TANTECH HOLDINGS LTD, a foreign private issuer, filed Form 6-K on June 23, 2023, for the month of June 2023. The filing discloses a private placement transaction rather than periodic financial results.

Key Financial Metrics

The filing does not provide revenue, profit, cash flow, margins, or debt figures. The only financial data disclosed relates to the capital raise:

  • Shares Issued: 1,315,000 common shares
  • Price Per Share: $2.50
  • Aggregate Gross Proceeds: $3,287,500.00
  • Post-Closing Share Count: 3,532,906 common shares outstanding

Material Changes

The material change is the execution of a Securities Purchase Agreement on June 23, 2023. The company agreed to sell shares to certain purchasers in a transaction exempt from registration under Regulation S. No placement agent was involved.

Guidance, Outlook, and Use of Proceeds

Management intends to use the net proceeds from the sale for working capital and general corporate purposes. The transaction is expected to close on or before June 26, 2023, subject to customary closing conditions. The filing contains no specific forward-looking guidance, risk factors, or discussion of unusual items beyond the transaction details.

Investor Verification Checklist

  • Confirm the closing of the transaction by June 26, 2023.
  • Verify the final number of outstanding shares post-closing.
  • Review the attached Securities Purchase Agreement (Exhibit 10.1) for specific terms and conditions.
  • Monitor subsequent filings for the actual deployment of the $3,287,500 in proceeds.