Welcome to our dedicated page for Future Fintech G news (Ticker: FTFT), a resource for investors and traders seeking the latest updates and insights on Future Fintech G stock.
Future FinTech Group Inc (NASDAQ: FTFT) operates at the intersection of traditional finance and digital innovation, offering investors a dynamic portfolio of services spanning supply chain management, cryptocurrency mining, and blockchain solutions. This news hub provides timely updates on corporate developments essential for understanding the company's evolving market position.
Key updates include earnings reports, strategic partnerships, blockchain initiatives, and regulatory filings. Users will find press releases covering cross-border payment innovations, asset management expansions, and progress in web3 technology applications. The curated collection serves investors seeking to track FTFT's integration of high-performance computing with financial services.
Bookmark this page for streamlined access to verified announcements about FTFT's global operations in China, Hong Kong, and U.S.-based crypto mining ventures. Regular updates ensure stakeholders stay informed about operational milestones without promotional bias.
Future FinTech Group Inc. (NASDAQ: FTFT) announced the closure of a registered direct offering, issuing 3,000,000 shares of Common Stock at $5.00 per share, generating gross proceeds of $15,000,000. The net proceeds will fund growth and general working capital. This offering was facilitated by A.G.P./Alliance Global Partners, with all offers made via a prospectus under an effective shelf registration statement. The securities cannot be sold in states where the offer is unlawful prior to necessary registration.
Future FinTech Group Inc. (NASDAQ: FTFT) announced a registered direct offering to institutional investors for 3 million shares at $5.00 per share, aiming to raise approximately $15 million. The closing is expected around January 13, 2021, contingent on customary closing conditions. Funds from this offering will be allocated for growth and general working capital purposes. This offering is made under an effective shelf registration statement filed with the SEC.
Future FinTech Group (NASDAQ: FTFT) announced an upgrade to its mBTC system through its 60%-owned subsidiary, DCON DigiPay, enabling e-commerce platforms to accept Bitcoin as a payment method. The mBTC system, with a 1,000,000:1 exchange rate against Bitcoin, addresses the challenges of using Bitcoin for online purchases by linking it to consumers' real names for recovery of lost funds. This technology also complies with KYC and AML regulations, intending to enhance its use beyond e-commerce into broader payment systems.
Future FinTech Group Inc. (NASDAQ: FTFT) has announced that the China Copyright Protection Center accepted its application for ten software copyrights related to blockchain technology on December 31, 2020. The software aims to enhance an anti-counterfeiting and tracing system for its e-commerce platform, Chain Cloud Mall (CCM). These innovations include various systems for monitoring credit points and ensuring product authenticity. The move is part of Future FinTech's strategy to integrate blockchain technology in e-commerce, potentially driving more traffic and business to CCM.
Future FinTech Group (NASDAQ: FTFT) announced a term sheet with Blocknance Financial International SRL to acquire 60% of Blocknance for $960,000, valuing the company at $1.6 million. Blocknance operates cryptocurrency exchange services in the Dominican Republic, featuring Bitcoin ATMs and physical offices. This acquisition aims to enhance FTFT's blockchain services and expand its market reach, especially for tourists. The deal aligns with FTFT's goal to establish a comprehensive blockchain financial service system and increase customer engagement.
Future FinTech Group Inc. (NASDAQ: FTFT) announced the closing of a registered direct offering on December 29, 2020, comprising 4,210,530 units at $1.90 each, raising gross proceeds of $8,000,007. Each unit consists of one share of common stock and one warrant to purchase an additional share at an exercise price of $2.15 for five years. The net proceeds will support growth capital and general working capital needs. A.G.P./Alliance Global Partners served as the placement agent for this offering.
Future FinTech Group (NASDAQ: FTFT) announced a definitive agreement for the purchase and sale of 4,210,530 shares of its common stock and warrants for a total price of $8,000,007 in a registered direct offering. The stock warrants have an exercise price of $2.15 per share and will expire in five years. The offering is expected to close around December 29, 2020, subject to customary conditions. Proceeds will be used for general corporate purposes. The deal is made under an effective shelf registration statement filed with the SEC.
Future FinTech Group Inc. (NASDAQ: FTFT) has signed a Share Exchange Agreement to acquire 70.59% of Asiasens Investment Holding Pte. Ltd. Asiasens owns 85% of PT. Sens Tekonlogi Indonesia, which holds a Financial Service Authority license in Indonesia. The acquisition involves issuing 2,160,000 shares of FTFT common stock based on Asiasens achieving specific EBIT goals in 2021 and 2022. This strategic move is aimed at expanding FTFT's presence in the consumer financial and e-commerce sectors within Indonesia and Southeast Asia, capitalizing on Asiasens' local market expertise.
The Future FinTech Group has appointed Mr. Ming Yi as Chief Financial Officer, effective November 30, 2020. Mr. Yi succeeds Ms. Jing Chen, who will now serve as vice president responsible for international M&A and internal control. Mr. Yi brings extensive financial management experience, having previously held CFO roles at SSLJ.com Limited and Wave Sync Corp. He aims to enhance cash flow and streamline financial processes as FTFT continues its venture into the challenger bank sector.
Future FinTech Group Inc. (NASDAQ: FTFT) has appointed Yang Liu as Chief Operation Officer. Liu brings 15 years of experience in technology, finance, and investment banking. His prior roles include CEO at Color Star Technology and Murex Regional Manager at UBS. Liu aims to enhance FTFT’s operations in M&A, investment activities, and overall strategic transformation, leveraging technology to build a financial technology ecosystem. CEO Shanchun Huang expressed confidence in Liu's capabilities for driving sustainable development and innovation within the company.
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