Future FinTech Group Inc. Reports Key Corporate Events

TL;DR

FTFT filed an 8-K detailing a material agreement, asset disposition, and shareholder vote on Dec 5th.

AI Summary

Future FinTech Group Inc. filed an 8-K on December 11, 2024, reporting on several key events that occurred on December 5, 2024. These include entering into a material definitive agreement, completing an acquisition or disposition of assets, and submitting matters to a vote of security holders. The filing also includes financial statements and exhibits.

Why It Matters

This filing indicates significant corporate actions, including potential acquisitions and shareholder votes, which could impact the company's future direction and financial performance.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements, asset dispositions, and shareholder votes, which can introduce significant operational and financial risks.

Key Players & Entities

• Future FinTech Group Inc. (company) — Registrant
• December 5, 2024 (date) — Date of earliest event reported
• December 11, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — h registered Common Stock, par value $0.001 per share FTFT Nasdaq Stock Market
• $1,000,000 — or a purchase price that equals to: (i) $1,000,000 and (ii) the assumption of the obligati
• $973,072.24 — gations of FTFT SuperComputing totaling $973,072.24 (collectively, the "Closing Purchase Pr

Filing Documents

• ea0224270-8k_futurefin.htm (8-K) — 41KB
• ea022427001ex10-1_futurefin.htm (EX-10.1) — 301KB
• 0001213900-24-107914.txt ( ) — 575KB
• ftft-20241205.xsd (EX-101.SCH) — 3KB
• ftft-20241205_lab.xml (EX-101.LAB) — 33KB
• ftft-20241205_pre.xml (EX-101.PRE) — 22KB
• ea0224270-8k_futurefin_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On December 6, 2024, Future FinTech Group Inc. (the "Company" or "Seller") and FTFT SuperComputing Inc. a wholly owned subsidiary of the Company ("FTFT SuperComputing") entered into a Stock Purchase Agreement (the "Agreement") with DDMM Capital LLC (the "Buyer"). Pursuant 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 the closing date in immediately available funds by wire transfer to an account at Olshan Frome Wolosky LLP to satisfy, in part, the right of payment held by FT Global Capital, Inc. ("FT Global") arising from the judgment entered in favor of FT Global and against the Company registered in the Southern District of New York and all matters pertaining to such litigation. The closing of the transactions contemplated by the Agreement (the "Closing") took place on December 9, 2024. The Agreement contains customary representations and warranties and pre- and post-closing covenants of each party and customary closing conditions. Breaches of the representations and warranties will be subject to customary indemnification provisions. The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is attached hereto as Exhibits 10.1 and is incorporated herein by reference.

01 Completion of Acquisition or Disposition of Assets

Item 2.01 Completion of Acquisition or Disposition of Assets. The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

07 Submission of Matters to a Vote of Security Holders

Item 5.07 Submission of Matters to a Vote of Security Holders. On December 5, 2024, Future FinTech Group Inc. (the "Company"), held its 2024 Annual Meeting of Shareholders (the "Annual Meeting"). A quorum was present at the Annual Meeting, and shareholders: (i) elected Hu Li, Mingyong Hu, Fuyou Li, Mingjie Zhao and Ying Li to the Company's Board of Directors, each to serve until the next annual meeting of stockholders or until their successors are duly elected and qualified; (ii) ratified the appointment of Fortune CPA, Inc., as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024; (iii) approved and adopted the Future FinTech Group Inc. 2024 Omnibus Equity Plan; and (iv) approved the compensation of the named executive officers in a non-binding, advisory vote. The following is a summary of the voting results for each matter submitted to the shareholders: Proposal 1. Election of Directors Name Votes For Votes Withheld Broker Non-Votes Fuyou Li 10,823,623 51,542 8,097,600 Hu Li 10,823,365 51,737 8,097,600 Ying Li 10,821,253 52,338 8,097,600 Mingyong Hu 10,824,156 50,929 8,097,600 Mingjie Zhao 10,824,334 51,261 8,097,600 1 Proposal 2: Ratification of the Appointment of Fortune CPA, Inc., as the Company's Independent Registered Public Accounting Firm for the fiscal year ending December 31, 2024 The shareholders ratified the appointment of Fortune CPA, Inc. , as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024, as follows: For Against Abstain Broker Non-Votes 14,062,407 298,247 65,165 N/A Proposal 3. Adoption and Approval of the Future FinTech Group Inc. 2024 Omnibus Equity Plan Votes For Votes Against Abstentions Broker Non-Votes 10,806,153 72,393 9,440 8,097,600 Proposal 4. Advisory Vote on Compensation of Named Executive Officers The shareholders approved, on an advisory, non-binding b

01 Financial Statements and

Item 9.01 Financial Statements and Exhibits (d) Exhibits 10.1 Stock Purchase Agreement by and among Future FinTech Group Inc., FTFT SuperComputing Inc. and DDMM Capital LLC dated on December 6, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Future FinTech Group Inc. Date: December 11, 2024 By: /s/ Hu Li Name: Hu Li Title: Chief Executive Officer 4

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View this 8-K filing on SEC EDGAR