Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 854

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 2
Chunk 854
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 the SEC’s website at www.sec.gov.

PIPE
Subscription Agreement

On
December 13, 2024, the Company entered into a Subscription Agreement (the “Subscription Agreement”) with Yuantian
Zhang (the “Investor”), pursuant to which, among other things, the Investor agreed to subscribe for and purchase,
and the Company agreed to issue and sell to the Investor, 1,000,000 shares of the Company’s Class A Common Stock at a purchase
price equal to $5.00 per share (the “Private Placement”) in connection with a financing effort related to the Merger Agreement.
The effectiveness of the Subscription Agreement is conditioned upon entering into an escrow agreement between the 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