Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 20

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 20
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, in each case, if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, stock exchange
or other similar transaction which results in all of the Company’s stockholders having the right to exchange their common stock
for cash, securities or other property.

On
November 18, 2024, the Company held a special stockholder meeting (the “Third Extension Meeting”) following the notice provided
by the Definitive Proxy filed on Schedule 14A on October 31, 2024 (as amended and supplemented, the “Proxy Statement”) with
the SEC, and stockholders approved by requisite votes to amend the Charter to provide for the right of the holders of Class B common
stock, par value $0.0001 per share, to convert such shares of Class B common stock into shares of Class A common stock, par value $0.0001
per share, on a one-to-one basis at the election of such holders (the “Founder Share Amendment Proposal”). Following approval
of the Founder Share Amendment Proposal by the Stockholders, on November 21, 2024, the Company promptly adopted and filed the Charter
Amendment with the Secretary of State of the State of Delaware, and all holders of Class B Common Stock elected to convert their shares
of Class B Common Stock to shares of Class A Common Stock on a one-to-one basis. The Company and the holders of 2,875,000 shares of Class
B Common Stock submitted required instruments to the Company’s transfer agent and on February 4, 2025, all of 2,875,000 shares
of Class B Common Stock were converted to 2,875,000 shares of Class A Common Stock that are non-redeemable and are subject to same transfer
restrictions. As of June 30, 2025, there is no issued and outstanding shares of Class B Common Stock.

Sponsor
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 “Sponsor Working Capital Loans”). Such Sponsor Working
Capital Loans is evidenced by non-interest-bearing promissory notes. The notes will 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