Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 381

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 8
Chunk 381
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 Extension
Redeeming Stockholders at a rate of approximately $10.81 per share (the “First 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 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”).

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 March 31, 2025, approximately $337,442 in aggregate
have been received in connection with the First Extension Overpayment Amount, and $176,184 in aggregate have been received in connection
with the Second Extension Overpayment Amount.

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 years ended
December 31, 2024 and 2023, the Company recorded $120,000
of administrative expenses annually. As of December 31, 2024 and December 31, 2023, the Company had $340,000
and $220,000, respectively,
in administrative expenses included in accounts payable and accrued