Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 78

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 78
---
 also noted that this serves as an additional basis for delisting the
Company’s securities from Nasdaq and since the Company is already scheduled to appear before a Hearings Panel for its failure to
comply with the Nasdaq Listing Rule 5420(a)(2), the Company has until December 4, 2024 to request a stay of suspension, pending a Hearings
Panel decision. In addition, the Staff noted that based on the Company disclosure that 1,564,549 shares were tendered for redemption in
connection with the special meeting on November 18, 2024, the Company no longer complies with the minimum 1,100,000 publicly held shares
requirement set forth in Listing Rule 5450(b)(2)(B) (the “Publicly Held Shares Rule”).

On
December 4, 2024, the Company timely submitted a letter requesting a stay of suspension. On December 9, 2024, the Company submitted an
updated information regarding the total number of listed securities and the total number of public shares and related information via
Nasdaq Listing Center. The Hearing was held on December 17, 2024.

On
January 15, 2024, the Company received a decision letter from the Panel stating that it grants the Company’s request for continued
listing on Nasdaq, provided that the demonstrates compliance with the Periodic Filing Rule on or before January 31, 2025.

On February 12, 2025, the
Company received a letter from Nasdaq stating that the Company had regained compliance with the listing rules and the matter is now closed.

On February 19, 2025, the
Company received a notice from the Nasdaq stating that the Company did not comply with Nasdaq Interpretive Material IM-5101-2, and that
our securities were now subject to delisting. The Company’s registration statement, filed in connection with the Company’s
IPO, became effective February 14, 2022. Pursuant to IM-5101-2, the Company, a special purpose acquisition company, must complete one
or more business combinations within 36 months of the effectiveness of its IPO registration statement, or by February 14, 2025. Since the Company did not complete
its initial business combination by February 14, 2025, the Company did not comply with IM-5101-2, and its securities became subject to
delisting.

The Company did not appeal