Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 37

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 37
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, a “Working Capital
Convertible Note,” and collectively, the “Working Capital Convertible Notes”) issued to Wuhao Zhang,
Yujie Zhou, Wanrong Wang, Shouxiang Lu, Ji Wang and Gang Yuan (each, an “Working Capital Investor,” and collectively,
the “Working Capital Investors”), pursuant to which, among other things, the Working Capital Investors agreed to
loan the Company $1,025,000
in aggregate (the “Principal Amount”) in exchange for their right to convert all or any part of the Principal
Amount and any accrued interest (the “Conversion Amount”) into the shares of the Company at or any time after the
closing of the initial business combination by the Company. The Maturity Date of the Working Capital Convertible Notes is September
30, 2025. The Working Capital Convertible Notes are interest-free, except that if there are no conversion or no repayment of the
Principal Amount on the Maturity Date and the Maturity Date is extended, an interest of 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 Working Capital Convertible Note. If an Event of Default (as defined therein) under the Working Capital
Convertible Note has occurred, a Working Capital 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 Working Capital
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