Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 70

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 70
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05 per public share that remains outstanding and is not redeemed prior to any such one-month extension, unless the closing of FutureTech’s initial business combination has occurred, in exchange for a non-interest bearing promissory note payable upon consummation of an initial business combination. In connection with the Third Extension Meeting, stockholders holding 1,539,549 public shares exercised their right to redeem such shares for a pro rata portion of the funds in the Company’s Trust Account. As a result, approximately $18 million (approximately $11.53 per share) will be removed from the Trust Account to pay such holders. As of January 24, 2025, there was approximately $26.5 million in investments held in the trust account, including approximately $18.0 million to be distributed in accordance with the November 18, 2024 redemption, but excluding approximately $810,000 to be received in connection with the claw back of the First Extension Overpayment Amount and the Second Extension Overpayment Amount.

All deposits made by the
Sponsor in connection with the First Extension Loan, the Second Extension Loan and the Third Extension Loan are collectively referred
to herein as FTII Extension Loans.

If FutureTech has not completed any initial business combination by the Extended Date, it will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the FutureTech Class A Common Stock, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company (less taxes payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then issued and outstanding public shares of FutureTech Class A Common Stock, which redemption will completely extinguish the rights of holders of such public shares of FutureTech Class A Common Stock as stockholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of FutureTech’s remaining stockholders and the FutureTech Board, liquidate and dissolve, subject in each case to FutureTech’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.

Since the Sponsor and FutureTech’s directors and executive officers have interests that are different from, or in addition to (and which may conflict with), the interests of our stockholders