Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 42

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 42
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,650 public shares of our Class A common stock properly exercised
their right to redeem their shares (the “First Extension Redeeming Stockholders “) for cash at a redemption price of approximately
$10.81 per share (the “First Redemption Payment”), for an aggregate redemption amount of approximately $64.2 million. 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 First Redemption Payment should have been approximately $10.73 per share. This meant
that the First Extension Redeeming Stockholders were overpaid in the amount of approximately $0.08 per share (the “First Extension
Overpayment Amount”). On or about March 6, 2025, the Trustee of the Trust Account commenced the claw-back process in connection
with the First Extension Overpayment Amount and the First Extension Overpayment is reflected in this Form 10-Q 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 First Extension
Redeeming Stockholders.

3

On
February 17, 2023 the Company caused to be deposited $1,150,000 into the Company’s Trust Account for its public stockholders, representing
$0.10 per public share, allowing the Company to extend the period of time it has to consummate its initial Business Combination by three
months from February 18, 2023 to May 18, 2023. On May 17, 2023 the Company caused to be deposited $1,150,000 into the Company’s
Trust Account for its public stockholders, representing $0.10 per public share, allowing the Company to extend the period of time it
has to consummate its initial Business Combination by three months from May 18, 2023 to August 18, 2023. On August 18, 2023, the Company
caused to be deposited $125,000 into the Company’s Trust Account, allowing the Company to extend the period of time it has to consummate
its initial Business Combination from August 18, 2023 to September 18, 2023. On September 26, 2023, the Company caused to be deposited
$125,000 into the Company’s Trust Account, allowing the Company to extend the period of time it has to consummate its initial Business
Comb