Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 13

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 13
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ation of the Company.

     F-10 

Note 2- Summary of Significant Accounting Policies (Continued)

As of March 31, 2025 and
December 31, 2024, the Company had $9,020,580 and $26,447,350 in an interest bearing bank demand deposit account, respectively, held in
the Trust Account.

Offering Costs Associated with the Initial
Public Offering

The Company complies with
the requirements of the Financial Accounting Standards Board ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”)
Topic 5A, “Expenses of Offering.” Offering costs of $513,352 consist principally of costs incurred in connection with
formation of the Company and preparation for the Initial Public Offering. These costs, together with the underwriter discount of $1,725,000
were charged to additional paid-in capital upon completion of the Initial Public Offering.

Class A Common Stock Subject to Possible Redemption

The Company accounts for
its common stock subject to possible redemption in accordance with the guidance enumerated in ASC 480 “Distinguishing Liabilities
from Equity.” Common stock subject to mandatory redemption is classified as a liability instrument and is measured at fair value.
Conditionally redeemable common stock (including common stock that features redemption rights that are either within the control of the
holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as
temporary equity. At all other times, common stock is classified as stockholders’ equity. The Company’s Class A common stock
features certain redemption rights that are considered by the Company to be outside of the Company’s control and subject to the
occurrence of uncertain future events. Accordingly, at March 31, 2025 and December 31, 2024, the Class A common stock subject to possible
redemption in the amount of $9,651,778 and $9,080,744, respectively, is presented as temporary equity, outside of the stockholders’
deficit section of the Company’s balance sheets. The increase of $571,034 during the three months ended March 31, 2025 in the Class
A common stock subject to possible redemption is due to accretion to the redemption value of $227,396 and differences between the estimated
third redemption and the actual amount paid of $343,638.

As
of March 31, 2025 and December 31, 2024, the