Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 1043

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 4
Chunk 1043
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 votes to approve the Second Charter Amendment, the holders of 3,236,915 public shares of our Class A common
stock properly exercised their right to redeem their shares (the “Second Extension Redeeming Stockholders”) for cash at
a redemption price of approximately $11.21 per share (the “the Second Redemption Payment”), for an aggregate redemption
amount of approximately $36 million (the “Second Redemption Payment”). It was later determined that the Company did not
withdraw all of the interest from the Trust Account that it was allowed to withdraw to cover income and franchise taxes and,
therefore, the Second Redemption Payment should have been approximately $11.10 per share. This meant that the Second Extension
Redeeming Stockholders were overpaid in the amount of approximately $361,843 (the “Second Extension Overpayment
Amount”). As of the date of this filing, the Company is in the process of commencing a claw back process of the Second
Extension Overpayment Amount, which is reflected in this Form 10-K as a receivable from the Sponsor as agreed by the Sponsor. This
amount will be reduced as the Company receives the claw back payments from the Second Extension Redeeming Stockholders.

17

On
February 18, 2024, the Company caused to be deposited $50,000 into the Company’s Trust Account, allowing the Company to extend
the period of time it has to consummate its initial Business Combination from February 18, 2024 to March 18, 2024. On March 18, 2024,
the Company caused to be deposited $50,000 into the Company’s Trust Account, allowing the Company to extend the period of time
it has to consummate its initial Business Combination from March 18, 2024 to April 18, 2024. On April 18, 2024, the Company caused to
be deposited $50,000 into the Company’s Trust Account, allowing the Company to extend the period of time it has to consummate its
initial Business Combination from April 18, 2024 to May 18, 2024. On May 18, 2024, the Company caused to be deposited $50,000 into the
Company’s Trust Account, allowing the Company to extend the period of time it has to consummate its initial Business Combination
from May 18, 2024 to June 18, 2024. On June 18, 2024, the Company caused to be