Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 26

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 26
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 funds held outside of the Trust Account. Furthermore, the letter
agreement among the Company and the Company’s officers, directors, and the Sponsor contains a provision pursuant to which the Sponsor
will agree to waive its right to be repaid for such loans to the extent there is insufficient funds held outside of the Trust Account
in the event that the Company does not complete a Business Combination. The Sponsor and its affiliates or designees are not obligated
to fund the Trust Account to extend the time for the Company to complete the initial Business Combination. The public stockholders will
not be afforded an opportunity to vote on the month-to-month extension of time to consummate an initial Business Combination during the
Combination Period.

Zero
Interest Convertible Notes

On
April 7, 2025, the Company signed Zero Interest Convertible Notes dated April 4, 2025 and April 7, 2025 (each, a “Working Capital
Convertible Note,” and collectively, the “Working Capital Convertible Notes”) issued to Wuhao Zhang, Yujie Zhou, Wanrong
Wang, Shouxiang Lu, Ji Wang and Gang Yuan (each, an “Working Capital Investor,” and collectively, the “Working Capital
Investors”), pursuant to which, among other things, the Working Capital Investors agreed to loan the Company $1,025,000 in aggregate
(the “Principal Amount”) in exchange for their right to convert all or any part of the Principal Amount and any accrued interest
(the “Conversion Amount”) into the shares of the Company at or any time after the closing of the initial business combination
by the Company. The Maturity Date of the Working Capital Convertible Notes is September 30, 2025. The Working Capital 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