Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 130

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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 administrative support for up to 18 months. Upon completion of the initial Business Combination or the
Company’s liquidation, the Company will cease paying these monthly fees. During the three and nine months ended September 30, 2024
the Company recorded $30,000 and $90,000, respectively of administrative expenses. As of September 30, 2024 and December 31, 2023, the
Company had $310,000 and $220,000 in administrative expenses included in accounts payable and accrued expenses on the Company’s
unaudited condensed balance sheets.

Representative
Shares

The
Company issued to EF Hutton and/or its designees, 115,000 shares of Class A common stock upon the Initial Public Offering. EF Hutton
has agreed not to transfer, assign or sell any such common stock until the completion of the Company’s initial Business Combination.
In addition, EF Hutton has agreed (i) to waive its redemption rights with respect to such common stock in connection with the completion
of the Company’s initial Business Combination and (ii) to waive its rights to liquidating distributions from the Trust Account
with respect to such common stock if the Company fails to complete its initial Business Combination within the Combination Period.

    F-15

The
representative shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately
following the commencement of sales in the Initial Public Offering pursuant to Rule 5110(e)(1) of FINRA’s NASD Conduct Rules. Pursuant
to FINRA Rule 5110(e)(1), these securities may not be sold, transferred, assigned, pledged or hypothecated or the subject of any hedging,
short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period
of 180 days immediately following the effective date of the registration statement for the Initial Public Offering, nor may they be sold,
transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the commencement of sales in the Initial
Public Offering except to any underwriter and selected dealer participating in the offering and their bona fide officers or partners,
registered persons or affiliates or as otherwise permitted under Rule 5110(e)(2), and only if any such transferee agrees to the foregoing
lock-up restrictions.

Note
6 - Commitments and Contingencies

Registration
Rights

The
holders of the insider shares