Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 295

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 14
Chunk 295
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 proceeds of the Initial
Public Offering and certain of the proceeds of the Private Placement Units was held in the Trust Account located in the United States
with Continental Stock Transfer & Trust Company acting as trustee, and invested only in U.S. government treasury obligations with
a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act,
which will be invested only in direct U.S. government treasury obligations, as determined by the Company, until the earlier of: (i) the
completion of a Business Combination and (ii) the distribution of the Trust Account as described above. To mitigate the risk that we
might be deemed to be an investment company for purposes of the Investment Company Act, following the 24-month anniversary of the effective
date of the registration statement relating to the Company’s Initial Public Offering, the Company has instructed Continental Stock
Transfer & Trust Company, the trustee with respect to the Trust Account, to liquidate the U.S. government treasury obligations or
money market funds held in the Trust Account and thereafter to hold all funds in the Trust Account in an interest bearing bank demand
deposit account until the earlier of consummation of an initial business combination or liquidation of the Company.

    F-12

Note
2- Summary of Significant Accounting Policies (Continued)

As
of December 31, 2024 and December 31, 2023, the Company had $26,447,350 and $61,839,164 in an interest bearing bank demand deposit account,
respectively, held in the Trust Account.

Offering
Costs Associated with the Initial Public Offering

The
Company complies with the requirements of the Financial Accounting Standards Board ASC 340-10-S99-1 and SEC Staff Accounting Bulletin
(“SAB”) Topic 5A, “Expenses of Offering.” Offering costs of $513,352 consist principally of costs
incurred in connection with formation of the Company and preparation for the Initial Public Offering. These costs, together with the
underwriter discount of $1,725,000 were charged to additional paid-in capital upon completion of the Initial Public Offering.

Class
A Common Stock Subject to Possible Redemption

The
Company accounts for its common stock subject to possible redemption in accordance with the guidance enumerated in ASC 480 “Distinguishing
Liabilities from Equity.” Common stock subject to mandatory redemption is classified as a liability instrument and is measured
at fair value. Conditionally redeemable common