Future FinTech Group Inc., 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.
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 and declared effective on December 11, 2020.