Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 91

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 91
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 upon consummation of
a business combination, and (ii) giving the holders of shares of Class B Common Stock the right to convert such shares of Class B Common
Stock to shares of Class A Common Stock at any time before the consummation of a business combination or automatically convert to shares
of Class A Common Stock at the closing of a business combination (the “Founder Share Amendment”). The Third Charter Amendment
was filed as Exhibit 3.1 to the Form 8-K filed by the Company on November 22, 2024.

Class
B Common Stock

Immediately
following the Third Extension Meeting and filing of the Third Charter Amendment with the Secretary of State of the State of Delaware,
on November 22, 2024, the holders of shares of Class B Common Stock unanimously elected to convert all of their shares of Class B Common
Stock to shares of Class A Common Stock on a one-to-one basis. As a result, all of 2,875,000 shares of Class B Common Stock issued and
outstanding have been converted to 2,875,000 shares of Class A Common Stock (the “Converted Class A Common Stock”) effective
November 21, 2024. Although for the purposes of Nasdaq listing standard, the Converted Class A Common Stock is considered as listed securities,
the Converted Class A Common Stock shall remain as founders’ shares and is not subject to redemption. As of the date of this filing,
there is zero (0) issued and outstanding shares of Class B Common Stock of the Company.

Nasdaq
Notice

As
previously disclosed, on April 23, 2024, the Company received a written notice (the “Notice”) from the Staff of Nasdaq Stock
Market LLC (the “Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Company’s Market
Value of Listed Securities (“MVLS”) was below the minimum of $50 million required for continued listing on The Nasdaq Global
Market (the “Market Value Standard”) pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the “Rule”). The Staff also
noted that the Company did not meet the requirements under Nasdaq Listing Rule 5450(b)(3)(A) (the “Total Assets/Total Revenue Standard”).
An indicator will be displayed with quotation information related to the Company’s securities on NASDAQ.com and NASDAQTrader.com
and may be displayed by other third-party providers of market data