Tantech Subsidiary Forges ~$7.8M Factoring Agreement

by Shivani Kumaresan, Benzinga Staff Writer

November 26, 2021 9:38 AM | 1 min read | Make a Comment

Tantech Holdings Ltd TANH announced that its subsidiary, First International Commercial Factoring (Shenzhen) Co LTD, won a factoring agreement valued a RMB 50 million (about $7.8 million).
The deal represents the company's first since announcing its intention to develop factoring opportunities.
Under the agreement, First International will buy $7.8 million) of outstanding receivables and outstanding invoices at a discounted rate from the customer, helping improve the customer's cash flow and revenue stability.
Price Action: TANH shares are trading lower by 6.93% at $0.8572 on the last check Friday.

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