Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 21

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 21
---

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 June 30, 2025 and December 31, 2024, the Company has $823,302
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 (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