Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 1

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 1
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 placed
in a trust account (“Trust Account”), To mitigate the risk that we might be deemed to be an investment company for
purposes of the Investment Company Act of 1940 (the “Investment Company Act”), on or before the 24-month anniversary of
the effective date of the registration statement relating to the Company’s Initial Public Offering, the Company maintained the
investment of funds held in the Trust Account in U.S. government securities within the meaning set forth in Section 2(a)(16) of the
Investment Company Act, with a maturity of 185 days or less or in money market funds investing solely in United States government
treasury obligations and meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 under the Investment
Company Act (or any successor rule). Following the 24-month anniversary of the effective date of the registration statement relating
to the Company’s Initial Public Offering, the Company has instructed Continental Stock Transfer & Trust Company, the
trustee with respect to the Trust Account, to liquidate the U.S. government treasury obligations or money market funds held in the
Trust Account and thereafter to hold all funds in the Trust Account in an interest bearing bank demand deposit account until the
earlier of consummation of our initial business combination or liquidation of the Company. The current yield on the funds held in
the Trust Account as of April 30, 2025 is 3.25%.
A portion of the interest earned on the funds held in the Trust Account may be released to us to pay our taxes, if any, and certain
other expenses as permitted. Funds held in the Trust Account shall be maintained in the above-references manner until the earlier
of: (i) the consummation of a Business Combination or (ii) the distribution of the Trust Account to the Company’s
stockholders, as described below.

Transaction costs of the
Initial Public Offering with the exercise of the overallotment option amounted to $5,688,352 consisting of $1,725,000 of cash underwriting
fees, $3,450,000 of deferred underwriting fees and $513,352 of other costs.

Following the closing of
the Initial Public Offering, $700,000 of cash was held outside of the Trust Account available for working capital purposes. As of March
31, 2025, the Company has available to it $130,