Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 30

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 30
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 if and only if the closing price of the common stock of the
Company on the date immediately prior to the Escrow Release Date is less than $7.50 per share. Pursuant to the Escrow Agreement, the
Escrow Agent shall release a portion of the Escrow Shares to the Investor such that the aggregate value of all shares of Common Stock
issued to the Investor at or before the Closing plus the value of the portion of the Escrow Property released to the Investor is equal
to $7,500,000; provided, however, that if the aggregate value of all shares of Common Stock issued to the Investor at or before the Closing
plus the value of the Escrow Property on the Escrow Release Date is less than $7,500,000, the Investor will be entitled to receive all
of the Escrow Property but nothing more; provided, further, that, each Escrow Share shall be valued at an amount equal
to the closing price of the shares of Common Stock on the Nasdaq Stock Market on the day immediately prior to the Escrow Release Date.

Underwriting Agreement

The underwriter was paid
a cash underwriting discount of one and a half percent (1.50%)
of the gross proceeds of the Initial Public Offering, or $1,725,000.
In addition, the underwriter is entitled to a deferred fee of three and a half percent (3.50%)
of the gross proceeds of the Initial Public Offering, or $3,450,000
(the “Deferred Commission”). The Deferred Commission was placed in the Trust Account to be paid in cash upon the closing
of a Business Combination, subject to the terms of the underwriting agreement. In addition, the Company issued the underwriter and/or
its designees, 115,000
shares of Class A common stock (or representative shares) upon the consummation of the Initial Public Offering.

On February 6, 2025, the
Company and Longevity executed a Satisfaction and Discharge of Indebtedness Pursuant to Underwriting Agreement dated February 15, 2022
(the “Discharge Agreement”) with D. Boral Capital LLC (f/k/a EF Hutton LLC, division of Benchmark Investments, LLC) (the “Underwriter”).
Under the Discharge Agreement, instead of receiving the full Deferred Commission in cash at the closing of the business combination with
Longevity and other parties thereto, the Underwriter will accept (1) $500,000 in cash