Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 80

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 80
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 five percent (5%) per annum will apply to the Principal Amount commencing from the Maturity Date, calculated on a 365 day/year
basis.

 The conversion price (the “Conversion
Price”) per share shall equal four dollars ($4) for the thirty (30) days immediately following the Issue Date (as defined therein),
and thereafter shall equal the lowest closing price of the common stock during the preceding twenty-five (25) Trading Day (as defined
therein) period ending on the latest complete Trading Day prior to the Conversion Date (as defined therein) of the Convertible Note. If
an Event of Default (as defined therein) under the Convertible Note has occurred, an Investor, in his/her sole discretion, may elect to
use a Conversion Price equal to the lower of: (i) the lowest traded price of the common stock of the Company on the Principal Market on
the Trading Day immediately preceding the Issue Date or (ii) 95% of either the lowest traded price or the closing bid price, whichever
is lower for the Company’s common stock on the Principal Market during any Trading Day in which the Event of Default has not been
cured.

The Investors agreed to waive any and all of their
rights and remedies that they may have at law or in equity against the Trust Account of the Company (as such term is defined in the S-1
of the Company), including, but not limited to, right to sue and collect from the Trust Account in the Event of Default by the Company.

The foregoing descriptions of the Convertible
Notes and the transactions contemplated thereby are only summaries and do not purport to be complete and are qualified in their entirety
by reference to the full text of such instruments, a copy of which was attached to the Current Report on Form 8-K as Exhibit 10.1 filed
with the SEC on April 11, 2025 and incorporated herein by reference. 

Results of Operations

We have neither engaged in
any operations nor generated any revenues to date. Our only activities from inception to March 31, 2025 were organizational activities,
those necessary to prepare for the Initial Public Offering (“Initial Public Offering”), conducting the Initial Public Offering
and identifying a target company for a business combination. 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 Initial