Company: FTII
Filing Date: 2025-04-09
Form Type: 10-K
Source: 0001641172-25-003384
Chunk: 249

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-04-09
Form: 10-K
Item: Item 11
Chunk 249
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 beginning after December 15, 2024, with early adoption permitted. The
Company adopted ASU 2023-07 in the fiscal year 2024 and there was no significant impact.

Management does not believe that any recently issued, but not yet effective,
accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Note
3 - Public Offering

Pursuant
to the Initial Public Offering and full exercise of the underwriters’ overallotment option, the Company sold 11,500,000 Units at
a purchase price of $10.00 per Unit. Each Unit consists of one share of Class A common stock and one redeemable warrant (“Public
Warrant”). Each Public Warrant will entitle the holder to purchase one share of Class A common stock at an exercise price of $11.50
per share (see Note 7).

Note
4 - Private Placement

Simultaneously
with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 520,075 Private Placement Units at a price of
$10.00 per Private Placement Unit (or $5,200,750 in the aggregate), from the Company. The Sponsor transferred $5,200,750 to the Trust
Account on February 16, 2022.

The
proceeds from the sale of the Private Placement Units were added to the net proceeds from the Initial Public Offering held in the Trust
Account. The warrants included in the Private Placement Units (the “Private Placement Warrants”) are identical to the warrants
sold in the Initial Public Offering, except as described in Note 7. If the Company does not complete a Business Combination within the
required period, the Private Placement Warrants will expire worthless.

    F-16

Note
5 - Related Party Transactions

Class
B Common Stock

On
October 8, 2021, the Company issued an aggregate of 2,875,000 shares of Class B common stock to the Sponsor for an aggregate purchase
price of $25,000 in cash, or approximately $0.009 per share. Such Class B common stock includes an aggregate of up to 375,000 shares
that were subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment option was not exercised in
full or in part, so that the Sponsor would collectively own 20% of the Company’s issued and outstanding shares after the Initial
Public Offering (assuming the initial stock