NFT Ltd. (NYSE:MI) ("Company" or "NFT", formerly known as Takung Art Co., Ltd.), as an emerging online trading platform operator of international art and collectibles,  today announced that it has entered into a securities purchase agreement with certain institutional investors for the purchase and sale of an aggregate of 1,890,000 units, with each unit consists of one Class A ordinary share, par value of US$0.04 per share ("Ordinary Share"), or one pre-funded warrant in lieu thereof, and one warrant (collectively, the "Securities") in a registered direct offering. The effective offering price for each unit is $1.35.

Each Unit consists of one Ordinary Share of the Company (or one pre-funded warrant to purchase one Ordinary Share in lieu thereof) ("Pre-Funded Warrant"), and one Common Warrant to purchase one Ordinary Share of the Company (the "Common Warrant"). Each Unit consisting of a Pre-Funded Warrant in lieu of an Ordinary Share and a Common Warrant is referred to herein as a "Pre-Funded Unit." The public offering price per Pre-Funded Unit is $1.31, which is equal to the public offering price per Unit to be sold in the Offering, minus the $0.04 exercise price per Pre-Funded Warrant. The aggregate gross proceeds from the Offering are expected to be approximately US$2.55 million, prior to deducting placement agent fees, legal fees, administrative and other offering-related expenses.