Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 32

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 32
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 sheets.

     F-18 

Note 7 - Stockholders’ Deficit (Continued)

Class B Common Stock
- The Company is authorized to issue 10,000,000 shares of Class B common stock with a par value of $0.0001 per share. Holders
of the Company’s Class B common stock are entitled to one vote for each share. At March 31, 2025 and December 31, 2024, there were
no shares of Class B common stock issued and outstanding, respectively.

At the Third Extension Meeting
held on November 18, 2024, stockholders approved by requisite votes to amend the Charter to provide for the right of the holders of Class
B common stock, par value $0.0001 per share, to convert such shares of Class B common stock into shares of Class A common stock, par value
$0.0001 per share, on a one-to-one basis at the election of such holders (the “Founder Share Amendment Proposal”). Following
approval of the Founder Share Amendment Proposal by the Stockholders, on November 21, 2024, the Company promptly adopted and filed the
Charter Amendment with the Secretary of State of the State of Delaware, and all holders of Class B Common Stock elected to convert their
shares of Class B Common Stock to shares of Class A Common Stock on a one-to-one basis (the “Converted Class A Common Stock”).
The Company and the holders of 2,875,000 shares of Class B Common Stock submitted required instruments to the Company’s transfer
agent and on February 4, 2025, all of 2,875,000 shares of Class B Common Stock were converted to 2,875,000 shares of Class A Common Stock
that are non-redeemable and are subject to same transfer restrictions. As of March 31, 2025 and December 31, 2024, there are no issued
and outstanding shares of Class B Common Stock.

The Converted Class A Common
Stock remain as founders’ shares (the “Founders’ Shares) and is not subject to redemption and will be subject to transfer
restrictions and lock-up obligations. Only holders of the Class B common stock and the Founders’ Shares will have the right to vote
on the election of directors prior to the Business Combination. Holders of Class A common stock and holders of Class B common stock will
vote together as a single class on all matters submitted to