Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 48

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 48
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 $7.50 per share. Pursuant to the Escrow Agreement, the Escrow Agent shall release a portion of
the Escrow Shares to the Investor such that the aggregate value of all shares of Common Stock issued to the Investor at or before the
Closing plus the value of the portion of the Escrow Property released to the Investor is equal to $7,500,000; 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 March 31, 202