Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 22

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 22
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ii) an aggregate amount equal to $0.03 multiplied by the number
of public shares of the Company that are not redeemed in connection with the stockholder vote to approve the Second Charter Amendment
for each such one-month extension unless the closing of the Company’s initial business combination shall have occurred, in exchange
for a non-interest bearing, unsecured promissory note payable upon consummation of a business combination.

On November 18, 2024, the
Company held the Third Extension Meeting (as defined above), at which the Company’s stockholders approved an amendment (the “Third
Charter Amendment”) to the Company’s Charter, (i) giving the Company the right to extend the deadline of Combination Period
from November 18, 2024 to August 18, 2025, provided that the Sponsor (or its affiliates or permitted designees) will deposit into Trust
Account an aggregate amount equal to $0.05 multiplied by the number of public shares of the Company that are not redeemed in connection
with the stockholder vote to approve the Third Charter Amendment, in exchange for a non-interest bearing, unsecured promissory note payable
upon consummation of a business combination, and (ii) giving the holders of shares of Class B Common Stock the right to convert such shares
of Class B Common Stock to shares of Class A Common Stock at any time before the consummation of a business combination or automatically
convert to shares of Class A Common Stock at the closing of a business combination.

Each deposit by the Sponsor for the First Charter
Amendment, the Second Charter Amendment, the Third Charter Amendment and any additional future extension amendments are collectively referred
to as the “Extension Loans”.

On February 17, 2023 the Company
caused to be deposited $1,150,000 into the Company’s Trust Account for its public stockholders, representing $0.10 per public share,
allowing the Company to extend the period of time it has to consummate its initial Business Combination by three months from February
18, 2023 to May 18, 2023. On May 17, 2023 the Company caused to be deposited $1,150,000 into the Company’s Trust Account for its
public stockholders, representing $0.10 per public share, allowing the Company to extend the period of time it has to consummate its initial
Business Combination by three months from May 18, 2023 to August 18, 2023