Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 28

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 28
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31, 2024, the Company had a receivable amount of $75,000. This amount is included
in the Due from Related Party on the Company’s condensed balance sheets.

Representative Shares

The Company issued to EF
Hutton and/or its designees, 115,000 shares of Class A common stock upon the Initial Public Offering. EF Hutton has agreed not to transfer,
assign or sell any such common stock until the completion of the Company’s initial Business Combination. In addition, EF Hutton
has agreed (i) to waive its redemption rights with respect to such common stock in connection with the completion of the Company’s
initial Business Combination and (ii) to waive its rights to liquidating distributions from the Trust Account with respect to such common
stock if the Company fails to complete its initial Business Combination within the Combination Period.

     F-17 

Note 5 - Related Party Transactions (Continued)

The representative shares
have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the commencement
of sales in the Initial Public Offering pursuant to Rule 5110(e)(1) of FINRA’s NASD Conduct Rules. Pursuant to FINRA Rule 5110(e)(1),
these securities may not be sold, transferred, assigned, pledged or hypothecated or the subject of any hedging, short sale, derivative,
put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days immediately
following the effective date of the registration statement for the Initial Public Offering, nor may they be sold, transferred, assigned,
pledged or hypothecated for a period of 180 days immediately following the commencement of sales in the Initial Public Offering except
to any underwriter and selected dealer participating in the offering and their bona fide officers or partners, registered persons or affiliates
or as otherwise permitted under Rule 5110(e)(2), and only if any such transferee agrees to the foregoing lock-up restrictions.

Note 6 - Commitments and Contingencies

Registration Rights

The holders of the insider
shares, as well as the holders of the Private Placement Units (and underlying securities) and any securities issued in payment of working
capital loans made to the Company, are entitled to registration rights pursuant to an agreement signed on the effective date of Initial
Public Offering. The holders of a majority of these securities are entitled to make up to three demands that the Company register