Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 31

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 31
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 Company and the Investor. In addition, the closing of the Private Placement
is contingent upon the concurrent consummation of the Business Combination with Longevity.

On
January 31, 2025, in connection with the Subscription Agreement, the
Company and the Investor signed an escrow agreement dated January 23, 2025 (the “Escrow Agreement”), pursuant to which the
Company agreed to issue additional 2,000,000 shares of Class A Common Stock (the “Escrow Shares”, together with any dividends,
distributions or other income on the 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.

Underwriting
Agreement

The
underwriter was paid a cash underwriting discount of one and a half percent (1.50%) of the gross proceeds of the Initial Public Offering,
or $1,725,000. In addition, the underwriter is entitled to a deferred fee of three and a half percent (3.50%) of the gross proceeds of
the Initial Public Offering, or $3,450,000 (the “Deferred Commission”). The Deferred Commission was placed in the Trust Account
to be paid in cash upon the closing of a Business Combination, subject to the terms