Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 55

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 55
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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 five percent (5%) per annum will apply to the Principal Amount commencing
from the Maturity Date, calculated on a 365 day/year basis.

The
conversion price (the “Conversion Price”) per share shall equal four dollars ($4) for the thirty (30) days immediately following
the Issue Date (as defined therein), and thereafter shall equal the lowest closing price of the common stock during the preceding twenty-five
(25) Trading Day (as defined therein) period ending on the latest complete Trading Day prior to the Conversion Date (as defined therein)
of the Convertible Note. If an Event of Default (as defined therein) under the Convertible Note has occurred, an Investor, in his/her
sole discretion, may elect to use a Conversion Price equal to the lower of: (i) the lowest traded price of the common stock of the Company
on the Principal Market on the Trading Day immediately preceding the Issue Date or (ii) 95% of either the lowest traded price or the
closing bid price, whichever is lower for the Company’s common stock on the Principal Market during any Trading Day in which the
Event of Default has not been cured.

The
Investors agreed to waive any and all of their rights and remedies that they may have at law or in equity against the Trust Account of
the Company (as such term is defined in the S-1 of the Company), including, but not limited to, right to sue and collect from the Trust
Account in the Event of Default by