Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 90

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 90
---
 time it has to
consummate its initial Business Combination from January 18, 2025 to February 18, 2025.

As
of September 30, 2024, there was $3,300,000 outstanding under the Extension Loans from the Sponsor. As of the date hereof, there is
approximately $3,400,000 outstanding under the Extension Loans from the Sponsor.

5

Recent
Developments

Business
Combination

On
September 16, 2024, the Company, entered into a Merger Agreement”, by and among the Company, Longevity, LBI Merger Sub, Inc., and
Bradford A. Zakes, solely in the capacity as seller representative.

Pursuant
to the Merger Agreement, the parties thereto will enter into the Transactions, pursuant to which, among other things, immediately following
the consummation of the acquisitions by Longevity of each of Cerevast Medical, Inc. and Aegeria Soft Tissue LLC, Longevity will merge
with and into LBI Merger Sub, with Longevity as the surviving entity and becoming a wholly-owned subsidiary of the Company. At the closing
of the Transactions (the “Closing”), the Company is expected to change its name to “Longevity Biomedical, Inc.”
and the Company’s common stock is expected to list on the NASDAQ Capital Market under the ticker symbol “LBIO.”

For
more information about the Merger Agreement and the proposed Longevity Business Combination, see our Current Report on Form 8-K filed
with the SEC on September 20, 2024. Unless specifically stated, this Quarterly Report on Form 10-Q does not give effect to the proposed
Transactions and does not contain the risks associated with the proposed transactions.

Extension
of Combination Period

On
November 18, 2024, the Company held the Third Extension Meeting at which the Company’s stockholders approved the Third Charter
Amendment by requisite votes, (i) giving the Company the right to extend the deadline of Combination Period from November 18, 2024 to
August 18, 2025, provided that the Sponsor (or its affiliates or permitted designees) will deposit into Trust Account an aggregate amount
equal to $0.05 multiplied by the number of public shares of the Company that are not redeemed in connection with the stockholder vote
to approve the Third Charter Amendment, in exchange for a non-interest bearing, unsecured promissory note payable