Future FinTech Group Inc. (FTFT): M&A transaction — Future FinTech sells FTFT SuperComputing to DDMM Capital for ~$1.97M to satisfy judgment

Future FinTech Group Inc.

Sale of wholly owned subsidiary FTFT SuperComputing for $1M cash plus assumption of $973,072 in liabilities; closed Dec 9, 2024.
Proceeds paid to Olshan Frome Wolosky LLP to satisfy FT Global Capital judgment in Southern District of New York.
Shareholders elected directors Hu Li, Mingyong Hu, Fuyou Li, Mingjie Zhao, Ying Li at Dec 5 annual meeting.
Shareholders ratified Fortune CPA as auditor and approved 2024 Omnibus Equity Plan; advisory vote passed on executive comp.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Future FinTech Group Inc. completed a disposition involving DDMM Capital LLC for $1,000,000 and assumption of obligations of FTFT SuperComputing totaling $973,072.24 (closed 2024-12-09).

Action: disposition
Counterparty: DDMM Capital LLC
Consideration: $1,000,000 and assumption of obligations of FTFT SuperComputing totaling $973,072.24
Closing: 2024-12-09

Exact text from the filing

to the terms of the Agreement, the Company agreed to sell all of the issued and outstanding shares of FTFT SuperComputing to the Buyer for a purchase price that equals to: (i) $1,000,000 and (ii) the assumption of the obligations of FTFT SuperComputing totaling $973,072.24 (collectively, the “Closing Purchase Price”). The Closing Purchase Price shall be paid on

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Future FinTech Group Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-107914

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