Future FinTech Group Inc. announced that it has entered into a Securities Purchase Agreement with the new investor, Streeterville Capital, LLC, to issue the Purchaser a Convertible Promissory Note in the principal amount of $1,100,000 at a purchase a price of $1,000,000 on December 27, 2023. The Purchaser purchased the Note with an original issue discount of $80,000, and the company agreed to pay to the Purchaser $20,000 for fees and costs incurred by Purchaser in connection with the Purchase Agreement. The Note was sold to the Purchaser pursuant to an exemption from registration under Regulation D, promulgated under the Securities Act of 1933, as amended.

The Note bears interest at the rate of 8% per annum. All outstanding principal and accrued interest, fees, charges, and late fees on the Note will become due and payable 12 months after the date when purchase price is delivered by the purchaser to the company. The minimum investment accepted from any outside investor is $1,100,000 and the transaction included participation from 1 investor pursuant to Regulation D. The Purchaser has the right at any time after the date that is six months after the Purchase Price Date until the outstanding balance of the note has been paid in full, at its election, to convert all or any portion of the outstanding balance into shares of common stock of the company at a conversion price of $1.20 per share.

Beginning on the date that is six months from the Purchase Price Date, the Purchaser shall have the right, exercisable at any time in its sole and absolute discretion, to redeem all or any portion of the note, subject to the maximum monthly redemption amount of $200,000 per calendar month. Payments of each redemption amount may be made in cash or by converting such redemption amount into shares of common stock of the company.