Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 251

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 11
Chunk 251
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 same transfer restrictions.
As of December 31, 2024, there is no issued and outstanding shares of Class B Common Stock.

Working
Capital Loans

In
order to finance transaction costs in connection with a Business Combination and fund ongoing operating cost, the Sponsor has agreed
to loan the Company funds as may be required up to $1,500,000 (the “Working Capital Loans”). Such Working Capital Loans would
be evidenced by non-interest-bearing promissory notes. The notes would either be repaid upon consummation of a Business Combination,
without interest, or, at the lender’s discretion, may be converted into private placement units at a price of $10.00 per unit.
The Units will be identical to the Private Placement Units. 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 December 31, 2024 and December 31, 2023, the Company has $412,257 and $0 working
capital loans outstanding respectively.

    F-17

Note
5 - Related Party Transactions (Continued)

Extension
Loan - Related Party

On
August 17, 2023, the Company held a special meeting of stockholders, at which the Company’s stockholders approved an amendment
(the “First Charter Amendment”) to the Company’s Charter, and amendment to the Investment Management Trust Agreement,
giving the Company the right to extend the deadline of Combination Period from August 18, 2023 to February 18, 2024, provided that the
Sponsor (or its affiliates or permitted designees) will deposit into Trust Account the lesser of: (i) $125,000 and (ii) an aggregate
amount equal to $0.04 multiplied by the number of public shares of the Company that are not redeemed in connection with the stockholder
vote to approve the First Charter Amendment for each such one-month extension unless the closing of the Company’s initial business
combination shall have occurred, in exchange for a non-interest bearing, unsecured promissory note payable upon consummation of a business
combination.

On
February 14, 2024, the Company held a special meeting of stockholders (the “Second Extension Meeting”), at which the Company’s
stockholders approved an amendment (the “Second Charter Amendment”) to the Company’s Charter,