Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 1052

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 4
Chunk 1052
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 the Company agreed to issue additional 2,000,000 shares of Class A Common
Stock (the “Escrow Shares”, together with any dividends, distributions or other income on the Escrow Shares, the “Escrow
Property”), in the name of the Company, to be deposited with Escrow Agent (as defined therein) for two (2) years from the date
of the Closing (the “Escrow Release Date”), subject to release if and only if the closing price of the common stock of the
Company on the date immediately prior to the Escrow Release Date is less than $7.50 per share. Pursuant to the Escrow Agreement, the
Escrow Agent shall release a portion of the Escrow Shares to the Investor such that the aggregate value of all shares of Common Stock
issued to the Investor at or before the Closing plus the value of the portion of the Escrow Property released to the Investor is equal
to $7,500,000; provided, however, that if the aggregate value of all shares of Common Stock issued to the Investor at or
before the Closing plus the value of the Escrow Property on the Escrow Release Date is less than $7,500,000, the Investor will be entitled
to receive all of the Escrow Property but nothing more; provided, further, that, each Escrow Share shall be valued at an
amount equal to the closing price of the shares of Common Stock on the Nasdaq Stock Market on the day immediately prior to the Escrow
Release Date.

The
foregoing descriptions of the Subscription Agreement, the Escrow Agreement and the transactions contemplated thereby are only summaries
and do not purport to be complete, and are qualified in their entirety by reference to the full text of such instruments, a copy of which
is attached to this Current Report on Form 8-K as Exhibit 10.1 and Exhibit 10.2, respectively, and incorporated herein by reference.

Compliance
with Nasdaq Listing Standards

With
respect to deficiency notices received by the Company as disclosed above, on January 15, 2025, the Company received a decision letter
from the Panel stating that it grants the Company’s request for continued listing on Nasdaq, provided that the demonstrates compliance
with the Periodic Filing Rule on or before January 31, 2025.

On
February 12, 2025, the Company received a letter from Nasdaq stating that the Company had regained compliance with the listing rules
and the matter