![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Monday, April 19, 2021 1:47:55 PM
Future FinTech Announces the Closing of the Acquisition of Sichuan Ticode Supply Chain Management Co., Ltd.
7:31 am ET April 19, 2021 (Benzinga) Print
Future FinTech Group Inc. (NASDAQ:FTFT) ("hereinafter referred to as Future FinTech", "FTFT" or "the Company"), a leading blockchain e-commerce company and a service provider for financial technology, today announced that on April 16, 2021, the Company closed its acquisition of a 60% equity interest in Sichuan Ticode Supply Chain Management Co., Ltd. ("Ticode") from Sichuan Longma Electronic Technology Co., Ltd. ("Longma"). As previously announced in the Company's press release on March 1, 2021, the Company and its wholly-owned subsidiary, Future Supply Chain Co., Ltd., entered into a definitive share exchange agreement (the "Agreement") with Longma and Ticode to acquire a 60% equity interest in Ticode from Longma.
The 60% equity interest in Ticode was valued at approximately $66.45 million and was paid in 7,789,882 shares of FTFT common stock priced at $8.53 per share. The Agreement also stipulates that an additional 5% of equity interest in Ticode shall be transferred to the Company at no cost should Ticode not achieve Earnings Before Interest and Taxes ("EBIT") of at least RMB 50.0 million (approximately $7.69 million) for the fiscal year ended December 31, 2021, and an additional 5% equity interest in Ticode shall be transferred to the Company at no cost should Ticode not achieve EBIT of at least RMB 57.5 million (approximately $8.85 million) for the fiscal year ended December 31, 2022.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Recent FTFT News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/20/2024 08:15:40 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/15/2024 08:30:26 PM
- Future FinTech Enters into New Bitcoin Mining Hosting Agreement for its Cryptocurrency Farm in Norwalk, Ohio • PR Newswire (US) • 04/30/2024 12:00:00 PM
- Future FinTech Enters into Bitcoin Mining Hosting Agreement for its Cryptocurrency Farm in Norwalk, Ohio • PR Newswire (US) • 03/26/2024 01:07:00 PM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 02/22/2024 09:45:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/14/2024 09:30:34 PM
- Shanchun Huang Responds to SEC Allegations • PR Newswire (US) • 01/17/2024 04:24:00 PM
- Future FinTech Responds to Inquiry of CEO • PR Newswire (US) • 01/16/2024 02:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/08/2024 09:45:08 PM
- Form D - Notice of Exempt Offering of Securities • Edgar (US Regulatory) • 01/08/2024 09:33:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/04/2024 09:45:25 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/02/2024 09:30:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/29/2023 10:00:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/26/2023 09:30:11 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 12/19/2023 09:30:58 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/08/2023 09:30:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/05/2023 09:30:10 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 09:15:39 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 11/14/2023 09:15:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/13/2023 01:30:27 PM
- Future FinTech Announces the Closing of the Acquisition of Alpha International Securities (Hong Kong) Ltd. • PR Newswire (US) • 11/13/2023 01:15:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 10/13/2023 08:08:05 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 10/13/2023 08:05:33 PM
- Future FinTech's 'FTFT PAY' Sponsors Awards Ceremony • PR Newswire (US) • 09/13/2023 12:30:00 PM
- Future FinTech CEO Attends Inauguration Ceremony for the President of Paraguay • PR Newswire (US) • 08/23/2023 12:24:00 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM