Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 417

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 417
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 consummation of the Target Acquisitions and closing of the Business Combination, we will be building a fully integrated biopharmaceutical company focused on the advancement of new technologies across therapeutics, monitoring and digital health that aim to restore tissue form and function for increasing health span.

Promissory Notes

The Company has received debt financing to support its operations to date. Please see Note 4 to the Company’s audited financial statements included elsewhere in this proxy statement/prospectus for more information.

First Amendment to Assignment, Assumption and Note Conversion Agreement

On September 12, 2024, the Company entered into the first amendment to the Assignment, Assumption and Note Conversion Agreement (“Convertible Note Agreement”) with FutureTech Partners and FutureTech Capital, LLC (“FutureTech Capital”) whereby the conversion ratio of the promissory notes that were outstanding as of September 12, 2024, and any promissory notes that would be issued subsequently was amended. The conversion will be calculated as follows:

(i) in exchange for the first $6.215 million of principal amount of promissory notes outstanding, that number of shares of Company Common Stock equal to 20% of the total number of shares of Company Common Stock to be outstanding immediately prior to the merger, plus (ii) in exchange for each additional $750,000 of principal amount of promissory notes outstanding, that number of shares of Company Common Stock equal to an additional 1% of Company common stock outstanding.

Contribution and Exchange Agreements

On August 7, 2022, we entered into Contribution and Exchange Agreements (“C&E Agreements”) with each of Aegeria Soft Tissue LLC, Cerevast Medical, Inc. and Novokera LLC (collectively the “Target Companies”) and each of their respective stockholders or members.

Under the C&E Agreements the owners of each of the Target Companies will exchange their shares in the Target Company for shares of Longevity with the ownership immediately after closing the transaction to be 30.16% to Aegeria, 45.21% to Cerevast, 13.63% to Novokera and 11% to FutureTech Capital, which may be adjusted based on whether and to what extent FutureTech Capital provides additional working capital to Longevity prior to the closing. The agreement also created an advisory board consisting of members from each of the Target Companies and FutureTech Capital to advise and assist with the transaction. In addition, the C&E Agreements contain customary