Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 28

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 28
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 all of the interest from the Trust Account that it was allowed to withdraw to cover income and franchise taxes and, therefore,
the First Redemption Payment should have been approximately $10.74 per share. This meant that the First Extension Redeeming Stockholders
were overpaid in the amount of approximately $0.07 per share (the “First Extension Overpayment Amount”).

In
connection with the Second Extension Meeting, on February 22, 2024, a redemption payment was made by CST, as trustee of the Trust Account,
to the Second Extension Redeeming Stockholders at a rate of approximately $11.21 per share (the “Second Redemption Payment”).
It was later determined that the Company did not withdraw all of the interest from the Trust Account that it was allowed to withdraw
to cover income and franchise taxes and, therefore, the Second Redemption Payment should have been approximately $11.10 per share. This
meant that the Second Extension Redeeming Stockholders were overpaid in the amount of approximately $0.11 per share (the “Second
Extension Overpayment Amount”).

    F-17

Note
5 - Related Party Transactions (Continued)

On
or about March 6, 2025, the Trustee of the Trust Account commenced the claw-back process in connection with the First Extension Overpayment
Amount and Second Extension Overpayment Amount. As of June 30, 2025, approximately $409,036 in aggregate have been received in connection
with the First Extension Overpayment Amount, and $285,989 in aggregate have been received in connection with the Second Extension Overpayment
Amount. The $695,024 recovered in aggregate for the First and Second Extension Overpayments as of June 30, 2025, has been received by
the Company and is included in Due from Sponsor on the Company’s unaudited condensed balance sheets .

Administrative
Support Agreement

Commencing
on the date the Units are first listed on Nasdaq, the Company has agreed to pay the Sponsor a total of $10,000 per month for office space,
utilities and secretarial and administrative support for up to 18 months. Upon completion of the initial Business Combination or the
Company’s liquidation, the Company will cease paying these monthly fees. During the three and six months ended June 30, 2025 and
2024, the Company recorded $30,000 and $60,000 of administrative expenses, respectively. As of June 30, 2025 and December 31