Tantech Holdings Ltd (NASDAQ:TANH)  shares fell 13.13% in after-hours trading Tuesday after the company announced a 1-for-50 reverse stock split.

The stock closed Tuesday’s regular session down 1.93% at $0.34. It then fell 13.13% to $0.30 in after-hours trading.

Tantech Holdings is a financial and technology company focused on bamboo-based charcoal products and related applications.

1-for-50 Reverse Stock Split

Tantech Holdings said its board approved a 1-for-50 reverse stock split of its Class A common shares.

The reverse stock split will become effective at 4:01 p.m. ET on Thursday, Sept. 3. The company said its shares will begin trading on a split-adjusted basis at the Nasdaq Capital Market’s open on Friday, Sept. 4.

The shares will continue trading under the existing TANH ticker and will receive a new CUSIP number, G8675X 164.

Shares Outstanding To Fall To 667,647

Upon implementation, every 50 outstanding shares will automatically convert into one share of common stock.

Tantech Holdings said its outstanding common shares will decrease from 33.38M to approximately 667,647 shares.

The company said the reverse stock split will affect all holders of common shares uniformly.

No fractional shares will be created or issued in connection with the reverse stock split.

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Shareholders Do Not Need To Act

Tantech Holdings said shareholders holding common shares in book-entry form or through a bank, broker or other nominee are not required to take any action.

The impact of the reverse stock split will be reflected in their accounts on or after Sept. 4, according to the company.

Trading Metrics

Tantech Holdings has a market capitalization of approximately $4.80M.

The stock has a 52-week high of $2.59 and a 52-week low of $0.30.

TANH shares are down 83.09% over the past year.

Benzinga’s Edge Stock Rankings show a negative price trend across all time frames.

Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Photo: ZCOOL HelloRF / Shutterstock – ek