Future FinTech Group Inc (FTFT) has released an update.
Future FinTech Group, Inc. has revised its agreement with Streeterville Capital, LLC concerning a convertible promissory note. Key amendments include the establishment of a minimum share price for conversions and the requirement that redemptions below this price must be paid in cash. Additionally, the lender’s right to alter ownership limits has been removed, capping their potential ownership at 9.99% of the company’s outstanding common stock post-conversion. This move aims to provide more stability and predictability to the company’s financial arrangements.
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