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.