Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 72

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 72
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 B Common Stock. If FutureTech does not consummate a business combination by the Extended Date, it would cease all operations except for the purpose of winding up, redeeming all of the issued and outstanding public shares for cash and, subject to the approval of its remaining stockholders and the FutureTech Board, liquidating and dissolving, subject in each case to its obligations under the DGCL to provide for claims of creditors and the requirements of other applicable law. In such event, the 2,875,000 shares of Class A Common Stock owned by the Sponsor and FutureTech’s current and former directors and executive officers that were received upon conversion of the Class B Common Stock would be worthless because following the redemption of the public shares, FutureTech would likely have few, if any, net assets and because the Sponsor and FutureTech’s current and former directors and executive officers have agreed to waive their respective rights to liquidating distributions from the Trust Account in respect of any shares of FutureTech Common Stock held by it or them, as applicable, if FutureTech fails to complete a business combination within the required period. Additionally, in such event, the 520,075 FutureTech Private Placement Warrants purchased by the Sponsor simultaneously with the consummation of FutureTech’s initial public offering for an aggregate purchase price of $5.2 million will also expire worthless. The 2,875,000 shares of Class A Common Stock into which the 2,875,000 shares of Class B Common Stock held by the Sponsor Persons converted, if unrestricted and freely tradable, would have had an aggregate market value of $[●] based upon the closing price of $[●] per public share on Nasdaq on [●], 2025, the most recent practicable date prior to the date of this proxy statement/prospectus.

If FutureTech is unable to complete a business combination within the required time period, the aggregate dollar amount of non-reimbursable funds the Sponsor and its affiliates have at risk that depends on completion of a business combination is approximately $8.7 million, comprised of (a) $25,000 representing the aggregate purchase price paid for the shares of Class B Common Stock, (b) $5.2 million representing the aggregate purchase price paid for the Private Placement Units, and (c) approximately $3.5 million representing the aggregate FTII Extension Loans.

As a result of the low initial purchase price (consisting of $25,000 for the 2,875,000 shares of Class B Common Stock