U.S. Marshal to Hold a Public Auction of 1,951,443 shares of Common Stock of Future FinTech Pursuant to the NY Court in Favor of FT Global Capital

FT Global Capital announces a U.S. Marshal-led public auction of 1,951,443 shares of Future FinTech (NASDAQ: FTFT) common stock, scheduled for June 12, 2025.

Rhea-AI Summary

FT Global Capital announces a U.S. Marshal-led public auction of 1,951,443 shares of Future FinTech (NASDAQ: FTFT) common stock, scheduled for June 12, 2025. This auction follows a Court Order granting FT Global's Motions for Turnover of Unissued Stock and Bank Funds. The auction stems from an Amended Judgment entered on April 16, 2024, where the U.S. District Court awarded FT Global approximately $10.8 million against Future FinTech, with a significant portion remaining unpaid. The shares will be sold "as is" exclusively to accredited investors, with restrictions including unregistered status under the Securities Act of 1933. FT Global plans to continue enforcement efforts both domestically and internationally against Future FinTech and its leadership.

Positive

• None.

Negative

• Future FinTech failed to pay a significant portion of the $10.8 million judgment
• Forced sale of 1,951,443 shares through U.S. Marshal auction indicates serious financial distress
• Company faces ongoing legal enforcement actions domestically and internationally
• Potential reputational damage due to legal proceedings against officers and directors

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MIAMI BEACH, Fla., June 2, 2025 /PRNewswire/ -- FT Global Capital, Inc. ("FT Global"), a Miami Beach-based registered broker-dealer and investment banking firm, announced today the most recent development in its effort to enforce its judgment against Future FinTech Group Inc. (Nasdaq: FTFT) ("Future FinTech"). Following the U.S. District Court's Order granting FT Global's Motions for Turnover of Unissued Stock and Bank Funds (the "Court Order"), the U.S. Marshal or its representatives will hold a public auction in front of Room 850 of the Courthouse for the United States District Court for the Southern District of New York, 500 Pearl Street, New York, New York 10007 on June 12, 2025, at 12:00 noon, of 1,951,443 shares of FTFT common stock (the "Securities").

At this auction, the Securities will be sold "as is," without any warranty, and subject to any and all encumbrances, if any. The Securities have not been registered under the U.S. Securities Act of 1933, as amended, and will be issued with customary restrictive legends. The Securities will be offered solely to "accredited investors," as that term is defined in the federal securities regulations. Any purchaser of the Securities must be prepared to comply with all reporting obligations under the federal securities law. Information about FTFT is available on the Securities and Exchange Commission EDGAR website. The auction of the Securities is not a public offering.

On April 16, 2024, the U.S. District Court for the Northern District of Georgia entered an Amended Judgment in favor of FT Global against Future FinTech in the approximate amount of $10.8 million. FT Global has entered the Amended Judgment in the Southern District of New York, among other courts. To date, a significant portion of the Amended Judgment remains unpaid. FT Global intends to work with the U.S. Marshal in connection with the Court Order to pay down the Amended Judgment.

FT Global will continue with its enforcement effort domestically and in foreign jurisdictions, as may be appropriate, against Future FinTech and its officers and directors.

About FT Global Capital, Inc.

FT Global Capital, Inc. is an investment banking firm and a FINRA member firm based in Miami Beach, FL and New York, NY.

Olshan Frome Wolosky LLP, a New York law firm, serves as FT Global's litigation counsel. FT Global has also retained local counsel in various jurisdictions to prosecute its enforcement efforts, noted above.

About Future FinTech

Future FinTech Group Inc.'s filings made with the U.S. Securities and Exchange Commission are at https://www.sec.gov/edgar/search/#/ciks=0001066923&entityName=Future%2520FinTech%2520Group%2520Inc.%2520(FTFT)%2520(CIK%25200001066923).

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SOURCE FT Global Capital, Inc.

FAQ

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What is happening to Future FinTech (FTFT) stock on June 12, 2025?

The U.S. Marshal will conduct a public auction of 1,951,443 shares of Future FinTech (FTFT) common stock at the U.S. District Court in New York at 12:00 noon.

Why is Future FinTech (FTFT) stock being auctioned by U.S. Marshal?

The auction is a result of Future FinTech failing to pay a significant portion of a $10.8 million judgment awarded to FT Global Capital by the U.S. District Court.

Who can buy Future FinTech (FTFT) shares at the U.S. Marshal auction?

Only accredited investors, as defined by federal securities regulations, can purchase the shares at the auction. The shares will be sold 'as is' with restrictive legends.

How much does Future FinTech (FTFT) owe to FT Global Capital?

Future FinTech owes approximately $10.8 million according to the Amended Judgment entered on April 16, 2024, with a significant portion still unpaid.

What legal actions is FT Global taking against Future FinTech (FTFT)?

FT Global is pursuing enforcement efforts both domestically and internationally against Future FinTech and its officers and directors to recover the unpaid judgment.