Tantech Sets 1-for-50 Reverse Split for Sept. 4, Its Second Share Consolidation in 19 Months

by Adam Kowalczyk · September 3, 2026

Filings & Deals Reporter, The MicroCap Herald

Tantech Holdings Ltd. (Nasdaq: TANH) has set today, Sept. 3, 2026, as the record date for a 1-for-50 reverse share split, with the company's common shares expected to begin trading on a split-adjusted basis on Friday, Sept. 4, according to a release the company issued Sept. 1 through GlobeNewswire.

The release states the record date takes effect at 4:01 p.m. Eastern time today. It puts shares outstanding immediately before the consolidation at 33,382,332, and says the count afterward will be approximately 667,647. A new CUSIP number, G8675X 164, will be assigned to the post-split shares.

On fractional interests, the release states that "No fractional shares will be created or issued in connection with the Reverse Stock Split." It also says the consolidation "will affect all holders of Common Shares uniformly," and tells holders who own shares through a broker or bank that no action is required on their part.

Notably, the Sept. 1 release does not state a reason for the split. It does not reference Nasdaq's minimum bid price rule, a compliance deadline, or any listing deficiency. The MicroCap Herald is reporting the company's stated rationale as absent rather than inferring one.

Separately, Investing.com reported that Tantech received a deficiency notice from Nasdaq under Listing Rule 5550(a)(2), the minimum bid price requirement, after the closing bid price stayed below $1.00 for 30 consecutive business days. That account dates the notice March 26, 2026, and puts the 180-calendar-day compliance deadline at Sept. 22, 2026; it also reported that the company said it was monitoring its share price and evaluating options to regain compliance, potentially including a reverse stock split, with no assurance it would be able to do so. The Herald was not able to retrieve Tantech's underlying filing directly, and secondary accounts do not agree on the notice date: the data page StockTitan carries alongside the split announcement refers to a bid-price notification dated March 31, 2026. Readers should treat the notice date and the deadline as reported by those outlets rather than as verified from a primary document.

Tantech has not announced that it has regained compliance with the bid price rule. If the deadline reported above is accurate, roughly three weeks remain in the initial cure period, and Nasdaq's rule requires a closing bid price of at least $1.00 for a minimum of ten consecutive business days for compliance to be restored.

This is not the company's first share consolidation. A Nasdaq Trader equity corporate actions alert, numbered ECA2025-60 and dated Feb. 11, 2025, records a 1-for-40 reverse stock split in Tantech shares effective Thursday, Feb. 13, 2025, with the CUSIP changing at that time to G8675X156.

Taken together, the February 2025 consolidation and the one taking effect this week compound to a cumulative ratio of 2,000-to-1 across roughly 19 months. That arithmetic matters because of how Nasdaq amended its bid-price rules.

A summary published by the law firm Sullivan & Worcester describes amendments to Nasdaq Rules 5550(a)(2) and 5450(a)(1) under which a company gets no compliance period at all, and instead receives an immediate delisting determination, if it has effected a reverse stock split during the prior one-year period, even if it was in compliance with the bid price requirement at the time of that earlier split. The same summary states that Nasdaq rules "will not provide for any compliance period in the event the listed company has effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one."

A separate summary from Hunton Andrews Kurth attributes the change to Nasdaq Rule 5810(c)(3)(A), approved by the SEC in October 2024, and states the restriction in the same terms: a company that fails the minimum price requirement is ineligible for any compliance period if it has "(i) effected a reverse stock split over the prior one-year period or (ii) effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to 1." On the point that matters for a company on its second consolidation, the two summaries agree: the cumulative test is written as "one or more" splits over two years, so a single large split, or a pair of smaller ones, can reach the 250-to-1 threshold. Hunton also notes that the amendments eliminated the additional compliance period that previously allowed extra time to cure a deficiency created by a reverse split.

The practical implication is that Tantech's cushion narrows after Friday. Should the shares fall back below the $1.00 threshold inside the lookback windows described above, the amended framework as both firms describe it would not hand the company another 180 days. The Sullivan & Worcester summary also notes that where a reverse split creates an additional deficiency under another continued-listing standard, the company is treated as noncompliant until it has cured that deficiency and thereafter meets the bid price requirement for a minimum of ten consecutive business days. With roughly 667,647 shares outstanding after Friday, the post-split capital structure is small enough that other continued-listing standards are worth watching.

On size: the data panel accompanying StockTitan's report on the split listed a float of about 6.21 million shares at the time the page was retrieved. That is vendor-supplied data shown on a live page, not a company disclosure. The market capitalization shown on the same panel changed between two retrievals during reporting, so the Herald is not publishing a figure for it; the company is a nano-cap by any of the values displayed, and the share count will change with the split in any case.

The Herald is not reporting an intraday or closing price for Tantech today. The US market is open at the time of publication, quotes for thinly traded nano-cap shares are reported inconsistently across data providers, and a share consolidation taking effect overnight makes same-session comparisons unreliable.

The risk here is plain and should not be understated. A reverse split changes the number of units a shareholder holds and the price per unit; it does not change the value of the business, add cash, or address whatever caused the shares to trade below a dollar in the first place. A company on its second consolidation in 19 months is, by the arithmetic above, one that did not hold the price gained from the first. Post-split floats measured in the high hundreds of thousands of shares can trade with severe volatility and wide spreads. Anyone evaluating this security should read Tantech's own filings on EDGAR rather than relying on secondary summaries, including this one.