Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 74

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 74
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 the risks associated with the proposed transactions. For such
information, please see Longevity Disclosure Statements. The Company’s S-4 can be accessed on the EDGAR section of the SEC’s
website at www.sec.gov.

PIPE Subscription Agreement

On December 13, 2024, the
Company entered into a Subscription Agreement (the “Subscription Agreement”) with Yuantian Zhang (the “Investor”),
pursuant to which, among other things, the Investor agreed to subscribe for and purchase, and the Company agreed to issue and sell to
the Investor, 1,000,000 shares of the Company’s Class A Common Stock at a purchase price equal to $5.00 per share (the “Private
Placement”) in connection with a financing effort related to the Merger Agreement. The effectiveness of the Subscription Agreement
is conditioned upon entering into an escrow agreement between the Company and the Investor. In addition, the closing of the Private Placement
is contingent upon the concurrent consummation of the Business Combination with Longevity.

 6 

 On January 31, 2025,
in connection with the Subscription Agreement, the Company and the Investor signed an escrow agreement dated January 23, 2025 (the “Escrow
Agreement”), pursuant to which the Company agreed to issue additional 2,000,000 shares of Class A Common Stock (the “Escrow
Shares”, together with any dividends, distributions or other income on the Escrow Shares, the “Escrow Property”), in
the name of the Company, to be deposited with Escrow Agent (as defined therein) for two (2) years from the date of the Closing (the “Escrow
Release Date”), subject to release 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