Company: FTII
Filing Date: 2025-07-31
Form Type: DEF 14A
Source: 0001641172-25-021616
Chunk: 69

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-07-31
Form: DEF 14A
Chunk 69
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 2025 to August 18, 2025.

Each deposit made by the Sponsor in connection with the extension of the combination period described herein shall be referred to herein as an “Extension Loan” and collectively, the “Extension Loans”.

As of December 31, 2024, there was $3,537,744 outstanding under the Extension Loans from the Sponsor. As of the date of this filing, there was $3,813,203 outstanding under the Extension Loans from the Sponsor.

Each Extension Loan was made in the form of non-interest-bearing promissory notes. If the Company completes its initial Business Combination, the Company will, at the option of the Sponsor, repay the Extension Loans out of the proceeds of the Trust Account released to the Company or convert a portion or all of the total loan amount into units at a price of $10.00 per unit, which units will be identical to the private units. If the Company does not complete a Business Combination, the Company will repay such loans only from funds held outside of the Trust Account. Furthermore, the letter agreement among the Company and the Company’s officers, directors, and the Sponsor contains a provision pursuant to which the Sponsor will agree to waive its right to be repaid for such loans to the extent there is insufficient funds held outside of the Trust Account in the event that the Company does not complete a Business Combination. The Sponsor and its affiliates or designees are not obligated to fund the Trust Account to extend the time for the Company to complete the initial Business Combination. The public stockholders will not be afforded an opportunity to vote on the extension of time to consummate an initial Business Combination until August 18, 2025described above or redeem their shares in connection with such extensions.

Director Independence

Nasdaq listing standards require that a majority of our board of directors be independent. An “independent director” is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship which in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. Our board of directors has determined that Neil Bush, Jonathan McKeage and Jeffrey Moseley are “independent directors” as defined in the Nasdaq listing standards and applicable SEC rules. Our independent directors will have regularly scheduled meetings at which only independent directors are present.

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STOCKHOLDER PROPOSALS

If the Charter Amendment Proposal is approved, we anticipate that