Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 29

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 29
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 such
securities. Notwithstanding anything to the contrary, the underwriters (and/or their designees) may only make a demand registration (i)
on one occasion and (ii) during the five-year period beginning on the effective date of the Initial Public Offering. The holders of the
majority of these securities can elect to exercise these registration rights at any time after the Company consummates a Business Combination.
In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent
to the consummation of a Business Combination. Notwithstanding anything to the contrary, the underwriters (and/or their designees) may
participate in a “piggy-back” registration only during the seven-year period beginning on the effective date of the Initial
Public Offering. The Company will bear the expenses incurred in connection with the filing of any such registration statements.

PIPE Subscription Agreement

On January 31, 2025, a
Subscription Agreement (defined below) with an Investor (defined below) became effective as follows: On December 13, 2024, the
Company signed 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