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

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 20
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 Business Combination, or (ii) the date on which the closing price of the Company’s
common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations)
for any 20 trading days within any 30-trading day period commencing six months after a Business Combination, or earlier, in each case,
if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, stock exchange or other similar transaction
which results in all of the Company’s stockholders having the right to exchange their common stock for cash, securities or other
property.

On November 18, 2024, the
Company held a special stockholder meeting (the “Third Extension Meeting”) following the notice provided by the Definitive
Proxy filed on Schedule 14A on October 31, 2024 (as amended and supplemented, the “Proxy Statement”) with the SEC, and stockholders
approved by requisite votes to amend the Charter to provide for the right of the holders of Class B common stock, par value $0.0001 per
share, to convert such shares of Class B common stock into shares of Class A common stock, par value $0.0001 per share, on a one-to-one
basis at the election of such holders (the “Founder Share Amendment Proposal”). Following approval of the Founder Share Amendment
Proposal by the Stockholders, on November 21, 2024, the Company promptly adopted and filed the Charter Amendment with the Secretary of
State of the State of Delaware, and all holders of Class B Common Stock elected to convert their shares of Class B Common Stock to shares
of Class A Common Stock on a one-to-one basis. The Company and the holders of 2,875,000 shares of Class B Common Stock submitted required
instruments to the Company’s transfer agent and on February 4, 2025, all of 2,875,000 shares of Class B Common Stock were converted
to 2,875,000 shares of Class A Common Stock that are non-redeemable and are subject to same transfer restrictions. As of March 31, 2025,
there is no issued and outstanding shares of Class B Common Stock.

Sponsor Working Capital Loans

In order to finance
transaction costs in connection with a Business Combination and fund ongoing operating cost, the Sponsor has agreed to loan the
Company funds as may be required up to $1,500,000