Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 21

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 21
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(the “Sponsor Working Capital Loans”). Such Sponsor Working Capital Loans is evidenced by non-interest-bearing
promissory notes. The notes will either be repaid upon consummation of a Business Combination, without interest, or, at the
lender’s discretion, may be converted into private placement units at a price of $10.00
per unit. The Units will be identical to the Private Placement Units. In the event that a Business Combination does not close, the
Company may use a portion of proceeds held outside the Trust Account to repay the Sponsor Working Capital Loans but no proceeds held
in the Trust Account would be used to repay the Sponsor Working Capital Loans. As of March 31, 2025 and December 31, 2024, the
Company has $713,302
and $412,257
Sponsor Working Capital Loans outstanding respectively.

     F-15 

Note 5 - Related Party Transactions (Continued)

Extension Loan - Related Party

On August 17, 2023, the Company
held a special meeting of stockholders, at which the Company’s stockholders approved an amendment (the “First Charter Amendment”)
to the Company’s Charter, and amendment to the Investment Management Trust Agreement, giving the Company the right to extend the
deadline of Combination Period from August 18, 2023 to February 18, 2024, provided that the Sponsor (or its affiliates or permitted designees)
will deposit into Trust Account the lesser of: (i) $125,000 and (ii) an aggregate amount equal to $0.04 multiplied by the number of public
shares of the Company that are not redeemed in connection with the stockholder vote to approve the First 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 February 14, 2024, the
Company held a special meeting of stockholders (the “Second Extension Meeting”), at which the Company’s stockholders
approved an amendment (the “Second Charter Amendment”) to the Company’s Charter, 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 (