Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 308

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 308
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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.

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Fair Market Value of Target Business

The target business
or businesses that FutureTech acquires must collectively have a fair market value equal to at least 80% of the assets held in the Trust
Account (excluding the amount of deferred underwriting discounts held in, and taxes payable on, the income earned on the Trust Account)
at the time of the execution of a definitive agreement for FutureTech’s initial business combination. The FutureTech Board considered
the opinion delivered by Newbridge Securities Corporation to the effect that, as of the date of the opinion, and subject to and based
on the assumptions made, procedures followed, matters considered, limitations of the review undertaken and qualifications contained in
the opinion, the Transactions are fair to FutureTech from a financial point of view and that Longevity has a fair market value equal to
at least eighty percent (80%) of the balance of funds in FutureTech’s Trust Account (excluding deferred underwriting commissions
and taxes payable).

Redemption Rights in Connection
with Stockholder Approval of Business Combinations

Under the Amended
and Restated Certificate of Incorporation, if FutureTech is required by law or elects to seek stockholder approval of its initial business
combination, holders of Class A Common Stock must be given the opportunity to redeem their Class A Common Stock in connection with the
proxy solicitation for the applicable stockholder meeting, regardless of whether they vote for or against the Business Combination, subject
to the limitations described in the prospectus for FutureTech’s initial public offering. Accordingly, in connection with the Business
Combination, holders of Class A Common Stock may seek to redeem their Class A Common Stock in accordance with