Business
Future Fintech Group Inc. Announces $15 Million Registered Direct Offering Priced At-the-market Under Nasdaq Rules
NEW YORK, Jan. 11, 2021 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT) ("Future FinTech", "FTFT" or "the Company"), a leading blockchain based
About this update from Future Fintech Group Inc.
[{"type":"text","content":"NEW YORK, Jan. 11, 2021 /PRNewswire/ -- Future FinTech Group Inc. (NASDAQ: FTFT) (\"Future FinTech\", \"FTFT\" or \"the Company\"), a leading blockchain based e-commerce company and a service provider for financial technology, today announced that it has entered into a definitive agreement with institutional investors for the purchase and sale of 3 million shares of its common stock at a price of $5.00 per share for gross proceeds of approximately $15 million in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about January 13, 2021, subject to the satisfaction of customary closing conditions. \nA.G.P./Alliance Global Partners is acting as the sole placement agent for the offering. \nThe Company intends to use the net proceeds from this offering for growth capital and general working capital purposes.\nThis offering is being made pursuant to an effective shelf registration statement on Form S-3 (File No. 333-224686) previously filed with the U.S. Securities and Exchange Commission (the \"SEC\") and declared effective on December 11, 2020. A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected].\nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout Future FinTech Group Inc.\nFuture FinTech Group Inc. (\"Future FinTech\", \"FTFT\" or the \"Company\") is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company's operations include a blockchain-based online shopping mall platform, Chain Cloud Mall (\"CCM\"), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects. The Company is also engaged in the development o...