Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 1054

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 4
Chunk 1054
---
payment Amount

On
or about March 6, 2025, the Trustee of the Trust Account commenced the claw-back process in connection with the First Extension Overpayment
Amount and Second Extension Overpayment Amount. As of March 31, 2025, approximately $337,442 in aggregate have been received in connection with
the First Extension Overpayment Amount, and $176,184 in aggregate have been received in connection with the Second Extension Overpayment
Amount.

Satisfaction
and Discharge Agreement with the Underwriter

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”). Pursuant to the Underwriting
Agreement in relation to the IPO, upon the completion of an initial business combination, the Underwriter is entitled to a deferred underwriting
commission of $3,450,000 (“Deferred Commission”). 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.

Working
Capital Loans

In order to finance transaction costs in connection with Longevity Business
Combination and ongoing operating costs, the Sponsor has agreed to provide us with a loan to the Company up to $1,500,000 as may be required