Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 583

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 1
Chunk 583
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,744 into the Company’s Trust account, allowing the Company to extend the period of time it has to consummate
its initial Business Combination from January 18, 2025 to February 18, 2025. On February 18th, 2025, the Company caused to
be deposited $37,744 into the Company’s Trust account, allowing the Company to extend the period of time it has to consummate its
initial Business Combination from February 18, 2025 to March 18, 2025. On March 18th, 2025, the Company caused to be deposited
$37,744 into the Company’s Trust account, allowing the Company to extend the period of time it has to consummate its initial Business
Combination from March 18, 2025 to April 18, 2025.

Each
deposit made by the Sponsor in connection with the extension of the combination period described herein shall be referred to herein as
an “Extension Loan” and collectively, the “Extension Loans”.

As
of December 31, 2024, there was $3,537,744 outstanding under the Extension Loans from the Sponsor. As of the date of this filing, there
was $3,650,976 outstanding under the Extension Loans from the Sponsor.

36

Each
Extension Loan was made in the form of non-interest-bearing promissory notes. If the Company completes its initial Business Combination,
the Company will, at the option of the Sponsor, repay the Extension Loans out of the proceeds of the Trust Account released to the Company
or convert a portion or all of the total loan amount into units at a price of $10.00 per unit, which units will be identical to the private
units. If the Company does not complete a Business Combination, the Company will repay such loans only from funds held outside of the
Trust Account. Furthermore, the letter agreement among the Company and the Company’s officers, directors, and the Sponsor contains
a provision pursuant to which the Sponsor will agree to waive its right to be repaid for such loans to the extent there is insufficient
funds held outside of the Trust Account in the event that the Company does not complete a Business Combination. The Sponsor and its affiliates
or designees are not obligated to fund the Trust Account to extend the time for the Company to complete the initial Business Combination.
The public stockholders will not be afforded an opportunity to vote on the extension of time to consummate an initial Business Combination
until August