Company: FTII
Filing Date: 2025-01-28
Form Type: 10-Q
Source: 0001493152-25-004006
Chunk: 125

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-01-28
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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, respectively.

Related
Party Loans

In
order to finance transaction costs in connection with a Business Combination, the Sponsor, an affiliate of the Sponsor, or the Company’s
officers and directors may, but are not obligated to, loan the Company funds as may be required (the “Working Capital Loans”).
Such Working Capital Loans would be evidenced by promissory notes. The notes would either be repaid upon consummation of a Business Combination,
without interest, or, at the lender’s discretion, up to $1,500,000 of such loans may be converted upon consummation of a Business
Combination into units at a price of $10.00 per unit. The Units will be identical to the Private Placement Units. In the event that a
Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital
Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. As of September 30, 2024 and December
31, 2023, the Company has no working capital loans outstanding.

    F-13

Note
5 - Related Party Transactions ((Continued))

Extension
Loan - Related Party

On
August 17, 2023, the Company held a special meeting of stockholders, at which the Company’s stockholders approved an amendment
(the “First Charter Amendment”) to the Company’s Charter, and amendment to the Investment Management Trust Agreement,
giving the Company the right to extend the deadline of Combination Period from August 18, 2023 to February 18, 2024, provided that the
Sponsor (or its affiliates or permitted designees) will deposit into Trust Account the lesser of: (i) $125,000 and (ii) an aggregate
amount equal to $0.04 multiplied by the number of public shares of the Company that are not redeemed in connection with the stockholder
vote to approve the First 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
February 14, 2024, the Company held a special meeting of stockholders (the “Second Extension Meeting”), at which the Company’s
stockholders approved an amendment (the “Second Charter Amendment”) to the Company’s Charter, giving the Company the
right to extend