NEW YORK, Feb. 9, 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 2,000,000 shares of its common stock at a
price of $5.95 per share for gross
proceeds of approximately $11.9
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 February 11, 2021,
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 growth capital and general working capital 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.
About Future FinTech Group Inc.
Future 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 of blockchain based technology and
services as well as financial technology services. For more
information, please visit http://www.ftftex.com/.
Safe Harbor Statement
Certain of the statements made in this press release are
"forward-looking statements" within the meaning and protections of
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended, or the
Exchange Act. Forward-looking statements include statements with
respect to our beliefs, plans, objectives, goals, expectations,
anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and
other factors, which may be beyond our control, and which may cause
the actual results, performance, capital, ownership or achievements
of the Company to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. All statements other than statements of
historical fact are statements that could be forward-looking
statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate,"
"assume," "should," "indicate," "would," "believe," "contemplate,"
"expect," "estimate," "continue," "plan," "point to," "project,"
"could," "intend," "target" and other similar words and expressions
of the future.
All written or oral forward-looking statements attributable to
us are expressly qualified in their entirety by this cautionary
notice, including, without limitation, those risks and
uncertainties described in our annual report on Form 10-K for the
year ended December 31, 2019 and our
other reports and filings with SEC. Such reports are available upon
request from the Company, or from the Securities and Exchange
Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to
update, revise or correct any of the forward-looking statements
after the date hereof, or after the respective dates on which any
such statements otherwise are made.
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SOURCE Future FinTech Group Inc.