Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 19

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 19
---
 financial statements.

Note 3 - Public Offering

Pursuant to the Initial Public
Offering and full exercise of the underwriters’ overallotment option, the Company sold 11,500,000 Units at a purchase price of $10.00
per Unit. Each Unit consists of one share of Class A common stock and one redeemable warrant (“Public Warrant”). Each Public
Warrant will entitle the holder to purchase one share of Class A common stock at an exercise price of $11.50 per share (see Note 7).

Note 4 - Private Placement

Simultaneously with the closing
of the Initial Public Offering, the Sponsor purchased an aggregate of 520,075 Private Placement Units at a price of $10.00 per Private
Placement Unit (or $5,200,750 in the aggregate), from the Company. The Sponsor transferred $5,200,750 to the Trust Account on February
16, 2022.

The proceeds from the sale
of the Private Placement Units were added to the net proceeds from the Initial Public Offering held in the Trust Account. The warrants
included in the Private Placement Units (the “Private Placement Warrants”) are identical to the warrants sold in the Initial
Public Offering, except as described in Note 7. If the Company does not complete a Business Combination within the required period, the
Private Placement Warrants will expire worthless.

     F-14 

Note 5 - Related Party Transactions

Class B Common Stock

On October 8, 2021, the Company
issued an aggregate of 2,875,000 shares of Class B common stock to the Sponsor for an aggregate purchase price of $25,000 in cash, or
approximately $0.009 per share. Such Class B common stock includes an aggregate of up to 375,000 shares that were subject to forfeiture
by the Sponsor to the extent that the underwriters’ over-allotment option was not exercised in full or in part, so that the Sponsor
would collectively own 20% of the Company’s issued and outstanding shares after the Initial Public Offering (assuming the initial
stockholders did not purchase any Public Shares in the Initial Public Offering and excluding the Private Placement Units and underlying
securities).

The initial stockholders
have agreed not to transfer, assign or sell any of the Class B common stock (except to certain permitted transferees) until the earlier
of (i) one year after the date of the consummation of a