Future FinTech Group Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
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Item 1.01 Entry into a Material Definitive Agreement
On June 17, 2025, Future Fintech Group Inc. (the “Company”) entered into a Settlement and Forbearance Agreement (the “Agreement”) with FT Global Capital, Inc. (“FT Global”), pursuant to which the parties agreed to settle four judgments totaling approximately $10.2 million entered against the Company in federal courts in Georgia, New York, Florida, and Ohio (collectively, the “Judgements”). Under the Agreement, FT Global agreed to forbear from enforcement and collection of the Judgments, including suspending an auction of shares of common stock of the Company, in exchange for the Company’s payment obligations and issuance of securities as outlined below.
Under the Agreement, the Company is required to make cash settlement payments totaling $4 million in installments over 18 months, beginning with an initial $500,000 payment due by June 20, 2025. In addition, the Company agreed to issue an aggregate of 400,000 shares of its common stock to FT Global and its legal counsel, and to issue rights entitling FT Global to receive up to 1.3 million additional shares of common stock, exercisable over time. These securities will be issued pursuant to a court order under Section 3(a)(10) of the Securities Act of 1933, as amended. If the Company is unable to issue the shares as contemplated, it is required to file a registration statement to register the securities at FT Global’s request.
The Agreement includes customary releases by both parties and a covenant by the Company to remain current in its SEC filings and maintain its listing on an eligible national securities exchange. If the Company fails to meet its obligations under the Agreement, FT Global may declare a default and resume collection efforts.
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.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| 10.1 | Settlement and Forbearance Agreement by and between Future FinTech Group Inc. and FT Global Capital, Inc. dated on June 17, 2025 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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: June 20, 2025 | By: | /s/ Hu Li |
| Name: | Hu Li | |
| Title: | Chief Executive Officer | |
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