Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 477

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 1A
Chunk 477
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 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 placed in a trust account (“Trust Account”),
To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act of 1940 (the “Investment
Company Act”), on or before the 24-month anniversary of the effective date of the registration statement relating to the Company’s
Initial Public Offering, the Company maintained the investment of funds held in the Trust Account in U.S. government securities within
the meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 185 days or less or in money market funds
investing solely in United States government treasury obligations and meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and
(d)(4) of Rule 2a-7 under the Investment Company Act (or any successor rule). Following the 24-month anniversary of the effective date
of the registration statement relating to the Company’s Initial Public Offering