Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 87

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 2
Chunk 87
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 2025. The Convertible Notes are interest-free, except that if there are no conversion or no repayment of the Principal Amount on
the Maturity Date and the Maturity Date is extended, an interest of five percent (5%) per annum will apply to the Principal Amount commencing
from the Maturity Date, calculated on a 365 day/year basis.

The
conversion price (the “Conversion Price”) per share shall equal four dollars ($4) for the thirty (30) days immediately following
the Issue Date (as defined therein), and thereafter shall equal the lowest closing price of the common stock during the preceding twenty-five
(25) Trading Day (as defined therein) period ending on the latest complete Trading Day prior to the Conversion Date (as defined therein)
of the Convertible Note. If an Event of Default (as defined therein) under the Convertible Note has occurred, an Investor, in his/her
sole discretion, may elect to use a Conversion Price equal to the lower of: (i) the lowest traded price of the common stock of the Company
on the Principal Market on the Trading Day immediately preceding the Issue Date or (ii) 95% of either the lowest traded price or the
closing bid price, whichever is lower for the Company’s common stock on the Principal Market during any Trading Day in which the
Event of Default has not been cured.

The
Investors agreed to waive any and all of their rights and remedies that they may have at law or in equity against the Trust Account of
the Company (as such term is defined in the S-1 of the Company), including, but not limited to, right to sue and collect from the Trust
Account in the Event of Default by the Company.

The
foregoing descriptions of the Convertible Notes 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 filed with the SEC on April 11, 2025 and incorporated herein by reference.

Results
of Operations

We
have neither engaged in any operations nor generated any revenues to date. Our only activities from inception to June 30, 2025 were organizational
activities, those necessary to prepare for the Initial Public Offering (“Initial Public Offering”), conducting the Initial
Public Offering and identifying a target company for a business combination. The Company will not generate any operating