Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 920

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 2
Chunk 920
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On February 6, 2025, the Company and Longevity executed a Satisfaction and Discharge of Indebtedness Pursuant to
Underwriting Agreement dated February 15, 2022 (the “Discharge Agreement”) with D. Boral Capital LLC (f/k/a EF Hutton LLC,
division of Benchmark Investments, LLC) (the “Underwriter”). Under the Discharge Agreement, instead of receiving the full
Deferred Commission in cash at the closing of the business combination with Longevity and other parties thereto, the Underwriter will
accept (1) $500,000 in cash at the time of the closing; (2) a $1,475,000 promissory note executed by the Company and Longevity (“D.
Boral Note”) in which the Company (upon closing) is obligated to pay the Underwriter in cash by the maturity date; and (3) 147,500
shares of the Company’s common stock, which when multiplied by the $10.00 per share price agreed to between the parties equals $1,475,000
and which shall be issued and delivered to the Underwriter at the closing. The Discharge Agreement and D. Boral Note have no effect unless
the Longevity Business Combination is consummated. The Discharge Agreement and D. Boral Note have been disclosed by the Company on the
Company’s Current Report on Form 8-K filed with the SEC on February 11, 2025.

Right
of First Refusal

For
a period beginning on the closing of the Initial Public Offering and ending twenty-four (24) months from the closing of a Business Combination,
the Company granted EF Hutton, division of Benchmark Investments, LLC a right of first refusal to act as lead-left book running manager
and lead left manager for any and all future private or public equity, convertible and debt offerings during such period.

Note
7 - Stockholders’ Deficit

Preferred
Shares - The Company is authorized to issue 1,000,000 preferred shares with a par value of $0.0001 per share with such designation,
rights and preferences as may be determined from time to time by the Company’s Board of Directors. At December 31, 2024 and December
31, 2023, there were no preferred shares issued or outstanding.

Class
A Common Stock - The Company is authorized to issue 100,000,000
shares of Class A common stock with a par value of $0.0001