Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 53

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 53
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 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 Convertible Notes is September 30, 2025. The 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 Convertible Note. If
an Event of Default (as defined therein) under the Convertible Note has occurred, an 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 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 collect from the Trust Account in the Event of Default by the Company.

The foregoing descriptions of the Convertible
Notes and the transactions contemplated thereby are only summaries and do not purport to be complete and are qualified in their entirety
by reference to the full text of such instruments, a copy of which was attached to the Current Report on Form 8-K as Exhibit 10.1 filed
with the SEC on April 11