Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 82

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 2
Chunk 82
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; provided, however, that if the aggregate value of all shares of Common Stock issued to the Investor at or
before the Closing plus the value of the Escrow Property on the Escrow Release Date is less than $7,500,000, the Investor will be entitled
to receive all of the Escrow Property but nothing more; provided, further, that, each Escrow Share shall be valued at an
amount equal to the closing price of the shares of Common Stock on the Nasdaq Stock Market on the day immediately prior to the Escrow
Release Date.

The
foregoing descriptions of the Subscription Agreement, the Escrow Agreement and the transactions contemplated thereby are only summaries
and do not purport to be complete, and are qualified in their entirety by reference to the full text of such instruments, a copy of which
was attached to the Current Report on Form 8-K as Exhibit 10.1 and Exhibit 10.2, respectively, filed with the SEC on January 31, 2025
and incorporated herein by reference.

Sponsor
Working Capital Loans

In
order to finance transaction costs in connection with Longevity Business Combination and ongoing operating costs, on March 25, 2025,
the Company issued an unsecured, non-interest-bearing promissory note in the aggregate principal amount up to $1,500,000 (the “Note”)
to the Sponsor. Pursuant to the Note, the Sponsor agreed to provide us with a loan up to $1,500,000 as may be required (“Sponsor
Working Capital Loans”). Such Sponsor Working Capital Loans would either be repaid upon consummation of a Business Combination,
without interest, or, at the lender’s discretion, may be converted upon consummation of a Business Combination into additional
Placement Units at a price of $10.00 per Unit. In the event that a Business Combination does not close, the Company may use a portion
of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used
to repay the Working Capital Loans. As of June 30, 2025, there was $823,302 outstanding under the Working Capital Loans.

Class
B Common Stock

Immediately
following the Third Extension Meeting and filing of the Third Charter Amendment with the Secretary of State of the State of Delaware,
on November 22, 2024, the holders of shares of Class B Common Stock unanimously elected to convert all of their shares of Class B Common