Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 76

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 Initial Public Offering. The Company will bear the expenses incurred in connection with the filing of any such
registration statements.

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 fee was placed in the Trust Account and will be paid in cash upon the closing
of a Business Combination, subject to the terms of the underwriting agreement. In addition, the Company issued EF Hutton and/or its designees,
115,000 shares of Class A common stock upon the consummation of the Initial Public Offering.

Right
of First Refusal

For
a period beginning on the closing of the Initial Public Offering and ending twenty-four (24) months from the closing of a Business Combination,
the Company granted EF Hutton, division of Benchmark Investments, LLC a right of first refusal to act as lead-left book running manager
and lead left manager for any and all future private or public equity, convertible and debt offerings during such period.

Note
7 - Stockholders’ Deficit

Preferred
Shares - The Company is authorized to issue 1,000,000 preferred shares with a par value of $0.0001 per share with such designation,
rights and preferences as may be determined from time to time by the Company’s Board of Directors. At September 30, 2024 and December
31, 2023, there were no preferred shares issued or outstanding.

Class
A Common Stock - The Company is authorized to issue 100,000,000 shares of Class A common stock with a par value of $0.0001 per
share. Holders of the Company’s Class A common stock are entitled to one vote for each share. At September 30, 2024 and December
31, 2023, there were 635,075 shares of Class A common stock issued and outstanding, which included 115,000 representative shares and
excludes shares subject to possible redemption. As of September 30, 2024 and December 31, 2023, there were 2,319,435 shares and 5,556,350
shares subject to possible redemption, respectively, of Class A common stock that were