Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 86

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 2
Chunk 86
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 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 Nasdaq’s determination to delist the Company securities and accordingly, the Company’s securities
was suspended from trading on Nasdaq at the opening of business on February 26, 2025. On February 25, 2025, the Company received a letter
of approval from FINRA to begin trading over the counter with the symbols “FTII” “FTIIU” and “FTIIW”
commencing on February 26, 2025.

The
Company expects that Nasdaq will file a Form 25-NSE with the SEC to delist its securities, and that the delisting will become effective
ten (10) days after Nasdaq files the Form 25-NSE with the SEC to complete the delisting. The Company does not intend to file a Form 15
with the SEC to terminate the registration of its securities under the Securities Exchange Act of 1934, as amended, and expects that
the Company’s securities will be quoted on the over-the-counter market. In addition, as disclosed in the Registration/Proxy Statement
on Form S-4 filed with the SEC on February 14, 2025, the Company intends to make a listing application for the securities of the combined
company to be traded on Nasdaq.

8

Recent
Developments

Zero
Interest Convertible Notes

On
April 7, 2025, the Company signed Zero Interest Convertible Notes dated April 4, 2025 and April 7, 2025 (each, a “Convertible Note,”
and collectively, the “Convertible Notes”) issued to Wuhao Zhang, Yujie Zhou, Wanrong Wang, Shouxiang Lu, Ji Wang and Gang
Yuan (each, an “Investor,” and collectively, the “Investors”), pursuant to which, among other things, the 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,