Company: FTII
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011790
Chunk: 31

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-05-20
Form: 10-Q
Item: Item 8
Chunk 31
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 at the time of the closing; (2) a $1,475,000 promissory
note executed by the Company and Longevity (“D. Boral Note”) in which the Company (upon closing) is obligated to pay the Underwriter
in cash by the maturity date; and (3) 147,500 shares of the Company’s common stock, which when multiplied by the $10.00 per share
price agreed to between the parties equals $1,475,000 and which shall be issued and delivered to the Underwriter at the closing. The Discharge
Agreement and D. Boral Note have no effect unless the Longevity Business Combination is consummated. The Discharge Agreement and D. Boral
Note have been disclosed by the Company on the Company’s Current Report on Form 8-K filed with the SEC on February 11, 2025.

Right of First Refusal

For a period beginning on
the closing of the Initial Public Offering and ending twenty-four (24) months from the closing of a Business Combination, the Company
granted the Underwriter a right of first refusal to act as lead-left book running manager and lead left
manager for any and all future private or public equity, convertible and debt offerings during such period.

Note 7 - Stockholders’ Deficit

Preferred Shares
- The Company is authorized to issue 1,000,000 preferred shares with a par value of $0.0001 per share with such designation, rights and
preferences as may be determined from time to time by the Company’s Board of Directors. At March 31, 2025 and December 31, 2024,
there were no preferred shares issued or outstanding.

Class A Common Stock
- The Company is authorized to issue 100,000,000 shares of Class A common stock with a par value of $0.0001 per share. Holders of the
Company’s Class A common stock are entitled to one vote for each share. At March 31, 2025 and December 31, 2024, there were 3,510,075
shares of Class A common stock issued and outstanding, respectively, which included 115,000 representative shares and excludes shares
subject to possible redemption. As of March 31, 2025 and December 31, 2024, there were 779,886 shares subject to possible redemption,
respectively, of Class A common stock that were classified as temporary equity in the accompanying condensed balance