Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 79

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 2
Chunk 79
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Nasdaq’s determination to delist the Company securities and accordingly, the Company’s securities was suspended from trading
on Nasdaq at the opening of business on February 26, 2025. On February 25, 2025, the Company received a letter of approval from FINRA
to begin trading over the counter with the symbols “FTII” “FTIIU” and “FTIIW” commencing on February
26, 2025.

The Company expects that
Nasdaq will file a Form 25-NSE with the SEC to delist its securities, and that the delisting will become effective ten (10) days after
Nasdaq files the Form 25-NSE with the SEC to complete the delisting. The Company does not intend to file a Form 15 with the SEC to terminate
the registration of its securities under the Securities Exchange Act of 1934, as amended, and expects that the Company’s securities
will be quoted on the over-the-counter market. In addition, as disclosed in the Registration/Proxy Statement on Form S-4 filed with the
SEC on February 14, 2025, the Company intends to make a listing application for the securities of the combined company to be traded on
Nasdaq.

 8 

Recent Developments

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 “Convertible Note,” and collectively, the “Convertible
Notes”) issued to Wuhao Zhang, Yujie Zhou, Wanrong Wang, Shouxiang Lu, Ji Wang and Gang Yuan (each, an “Investor,” and
collectively, the “Investors”), pursuant to which, among other things, the 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 Convertible Notes is September 30, 2025. The 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