Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 0

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
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(unaudited)

Note 1 - Description of Organization and Business
Operations, Going Concern and Basis of Presentation

FutureTech II Acquisition
Corp. (the “Company”) is a blank check company incorporated in Delaware on August 19, 2021. The Company was formed for the
purpose of effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business
combination with one or more businesses (the “Business Combination”). The Company is an early stage and emerging growth company
and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As of March 31, 2025, the
Company had not commenced any operations. All activity for the period from April 13, 2021 (inception) through March 31, 2025 relates to
organizational activities, identifying a target company for a business combination, and activities in connection with the proposed Business
Combination with Longevity. The Company will not generate any operating revenues until after the completion of its initial Business Combination,
at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds
derived from the Company’s initial public offering (the “Initial Public Offering”). The Company has selected December
31 as its fiscal year end.

The registration statement
for the Initial Public Offering was declared effective on February 14, 2022. On February 18, 2022, the Company consummated the Initial
Public Offering of 11,500,000 units (“Units” and, with respect to the shares of Class A common stock included in the Units
offered, the “Public Shares”), generating gross proceeds of $115,000,000, which is described in Note 3.

Simultaneously with the closing
of the Initial Public Offering, the Company consummated the sale of 520,075 private placement units (the “Private Placement Units”)
at a price of $10.00 per unit in a private placement to the FutureTech Partners II LLC (the “Sponsor”), generating gross proceeds
of $5,200,750, which is described in Note 4.

Following the closing
of the Initial Public Offering on February 18, 2022, an amount of $117,300,000
($10.00
per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the Private Placement Units was