Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 252

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 11
Chunk 252
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 giving the Company the
right to extend the deadline of Combination Period from February 18, 2024 to November 18, 2024, provided that the Sponsor (or its affiliates
or permitted designees) will deposit into Trust Account the lesser of: (i) $50,000 and (ii) an aggregate amount equal to $0.03 multiplied
by the number of public shares of the Company that are not redeemed in connection with the stockholder vote to approve the Second Charter
Amendment for each such one-month extension unless the closing of the Company’s initial business combination shall have occurred,
in exchange for a non-interest bearing, unsecured promissory note payable upon consummation of a business combination.

On
November 18, 2024, the Company held the Third Extension Meeting (as defined above), at which the Company’s stockholders approved
an amendment (the “Third Charter Amendment”) to the Company’s Charter, (i) giving the Company the right to extend the
deadline of Combination Period from November 18, 2024 to August 18, 2025, provided that the Sponsor (or its affiliates or permitted designees)
will deposit into Trust Account an aggregate amount equal to $0.05 multiplied by the number of public shares of the Company that are
not redeemed in connection with the stockholder vote to approve the Third Charter Amendment, in exchange for a non-interest bearing,
unsecured promissory note payable upon consummation of a business combination, and (ii) giving the holders of shares of Class B Common
Stock the right to convert such shares of Class B Common Stock to shares of Class A Common Stock at any time before the consummation
of a business combination or automatically convert to shares of Class A Common Stock at the closing of a business combination.

Each
deposit by the Sponsor for the First Charter Amendment, the Second Charter Amendment, the Third Charter Amendment and any additional
future extension amendments are collectively referred to as the “Extension Loans”.

On
February 17, 2023 the Company caused to be deposited $1,150,000 into the Company’s Trust Account for its public stockholders, representing
$0.10 per public share, allowing the Company to extend the period of time it has to consummate its initial Business Combination by three
months from February 18, 2023 to May 18, 2023. On May 17, 2023 the Company caused to be deposited $1,150,000 into the