Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 837

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 2
Chunk 837
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 (2) holders of record of our units, eleven (11) holders of record of our Class A common stock, and 1
holder of record of our warrants. A substantially greater number of holders of Class A common stock are “street name” or beneficial
holders, whose shares of record are held by banks, brokers, and other financial institutions. As a result, we are unable to estimate the
total number of stockholders represented by the record holders of our common stock.

Dividends

We
have not paid any cash dividends on our common stock to date and do not intend to pay cash dividends prior to the completion of our initial
business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements
and general financial condition subsequent to completion of our initial business combination. The payment of any cash dividends subsequent
to our initial business combination will be within the discretion of our board of directors at such time. In addition, our board of directors
is not currently contemplating and does not anticipate declaring any stock dividends in the foreseeable future. Further, if we incur
any indebtedness in connection with our initial business combination, our ability to declare dividends may be limited by restrictive
covenants we may agree to in connection therewith.

Securities
Authorized for Issuance Under Equity Compensation Plans

None.

Recent
Sales of Unregistered Securities

See
“Use of Proceeds from the Initial Public Offering” below.

Purchases
of Equity Securities by the Issuer and Affiliated Purchasers

None.

Use
of Proceeds from the Initial Public Offering

On
February 18, 2022, we completed our Initial Public Offering of 11,500,000 units. Each Unit consists of one share of Class A common stock
and one redeemable warrant. Each Public Warrant entitles the holder to purchase one share of Class A common stock at an exercise price
of $11.50 per share. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $115,000,000.

13

On
February 18, 2022, simultaneously with the sale of the Units, the Company consummated the private sale of 520,075 Placement Units to
the Sponsor, generating gross proceeds of $5,200,750. The Placement Units were issued pursuant to Section 4(a)(2) of the Securities Act
of 1933, as amended, as the transactions did