Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 89

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 89
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 Extension Meeting held on November 18, 2024, we filed an amendment to the Charter with the
Delaware Secretary of State on November 21, 2024 (the “Third Charter Amendment”), to extend the date by which we have to
consummate a business combination for an additional nine months up to August 18, 2025 by electing to extend the date to consummate an
initial business combination on a monthly basis for up to nine times by an additional one month each time until August 18, 2025 or a
total of up to nine months, or such earlier date as determined by the Board, unless the closing of our initial business combination shall
have occurred, provided that the Sponsor (or its affiliates or permitted designees) will deposit into the Trust Account an aggregate
amount equal to $0.05 multiplied by the number of our public shares that are not redeemed for such extension unless the closing of our
initial business combination shall have occurred, in exchange for a non-interest bearing, unsecured promissory note payable upon consummation
of a business combination. The Third Charter Amendment was filed as Exhibit 3.1 to the Form 8-K filed by the Company on November 22,
2024.

In
connection with the votes to approve the Third Charter Amendment, the holders of 1,564,549 public shares of our Class A common stock
properly exercised their right to redeem their shares for cash at a redemption price of approximately $11.01 per share as disclosed in
the Proxy Statement. The Company is working on calculating the actual redemption price for the Third Extension and intends to disclose it by filing a Current Report on Form 8-K as soon as it is available.

On
November 20, 2024, the Company caused to be deposited $37,744 into the Company’s Trust account, allowing the Company to extend
the period of time it has to consummate its initial Business Combination from November18, 2024 to December 18, 2024. On December 18,
2024, the Company caused to be deposited $37,744 into the Company’s Trust account, allowing the Company to extend the period
of time it has to consummate its initial Business Combination from December 18, 2024 to January 18, 2025. On January 18, 2025, the Company
caused to be deposited $37,744 into the Company’s Trust account, allowing the Company to extend the period of