Future Fintech Stock Trades Lower On Raising $35M From Private Institutional Offering

April 1, 2021 1:41 PM | 1 min read |

Blockchain-based e-commerce company and financial technology service provider Future FinTech Group Inc FTFT inked an agreement to raise $35 million from a private institutional offering of 5.7 million shares priced at $6.1 per share.
The offer price signifies a 1.6% discount to the Wednesday closing price of $6.2.
The offering proceeds will be utilized for growth capital and general working capital purposes.
A.G.P./Alliance Global Partners is the sole placement agent for the offering.
Earlier today, Future FinTech agreed to acquire a Bitcoin mining farm for $9.1 million (RMB 60 million).
The company held $0.958 million in cash and cash equivalent as of September 30, 2020.
Price action: FTFT shares traded lower by 3.58% at $5.98 on the last check Thursday.

Posted In: News Offerings Small Cap Tech Media

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.