Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 77

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 77
---
 7 

On
October 29, 2024, the Company timely appealed the Staff’s Determination and requested for a hearing (the “Hearing”)
to the Hearings Panel (the “Panel”). On October 30, 2024, the Company received a letter from Nasdaq stating that the delisting
action has been stayed, pending a final written decision by the Panel, and that the date of the Hearing will be December 17, 2024. The
letter also contained hearing instructions. On November 27, 2024, the Company timely submitted written materials setting forth grounds
for additional time to regain compliance or alternatively grant the Company’s application to transfer its shares to list on the
Nasdaq Capital Market. On November 27, 2024, the Company submitted an application to transfer from the Nasdaq Global Market to the Nasdaq
Capital Market. On December 11, 2024, the Company received an approval letter from Nasdaq, informing that the Company’s transfer
application has been approved and the Company’s securities will be transferred to the Nasdaq Capital Market at the opening of business
on December 13, 2024.

In
order to regain compliance with Nasdaq, the Company held the Third Extension Meeting on November 18, 2024 at which the stockholders approved
the Founder Share Amendment, and all holders of shares of Class B Common Stock promptly elected to convert all 2,875,000 shares of Class
B Common Stock to 2,875,000 shares of Class A Common Stock. As a result, as of December 3, 2024, the Company has approximately 5,305,595
shares of issued and outstanding listed securities.

As
disclosed in a Form 12b-25 Notification of Late Filing filed with the SEC on November 15, 2024, the Company is delayed in filing its Quarterly
Report on Form 10-Q for the quarter ended September 31, 2024 (the “2024 Q3 10-Q”) with the SEC. Consequently, the Company received
an expected deficiency notification letter from the Staff of Nasdaq dated November 27, 2024 (the “Third Notice”). The Third
Notice indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Periodic Filing Rule”) as
a result of its failure to timely file the 2024 Q3 10-Q. The Staff