Benzinga | Dec 24, 2020 08:42AM EST

Future Fintech Group Inc. Announces $8M Registered Direct Offering

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 4,210,530 shares of its common stock and common stock warrants to purchase up to 4,210,530 shares of common stock at a combined purchase price of $8,000,007 in a registered direct offering. The common stock warrants have an exercise price of $2.15 per share, and will be immediately exercisable and will expire five years from the date of issuance. The closing of the offering is expected to occur on or about December 29, 2020, subject to the satisfaction of customary closing conditions.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

The Company intends to use the net proceeds from this offering for general corporate purposes.

This 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 prospectus@allianceg.com.

This 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.