Tantech Holdings, a Chinese manufacturer of household bamboo charcoal products, submitted an initial filing and announced terms for its IPO on Tuesday. The Lishui City, China-based company plans to raise $8 million by offering 1.6 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Tantech Holdings would command a market value of $108 million.
Founder, Chairman and CEO Zhengyu Wang will own a 93% post-IPO stake. All but 1.6 million shares are subject to a 180-day lock-up.
Tantech Holdings, which was founded in 2002 and booked $61 million in sales for the 12 months ended December 31, 2013, plans to list on the NASDAQ under the symbol TANH. Tantech Holdings initially filed confidentially on September 30, 2013. Newbridge Securities is the sole bookrunner on the deal.
