Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 50

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 50
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 Escrow Shares, the “Escrow
Property”), in the name of the Company, to be deposited with Escrow Agent (as defined therein) for two (2) years from the date
of the Closing (the “Escrow Release Date”), subject to release if and only if the closing price of the common stock of the
Company on the date immediately prior to the Escrow Release Date is less than $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