Company: FTII
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001641172-25-025250
Chunk: 32

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 8
Chunk 32
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 of the underwriting agreement. In addition, the Company
issued the underwriter and/or its designees, 115,000 shares of Class A common stock (or representative shares) upon the consummation
of the Initial Public Offering.

On
February 6, 2025, the Company and Longevity executed a Satisfaction and Discharge of Indebtedness Pursuant to Underwriting Agreement
dated February 15, 2022 (the “Discharge Agreement”) with D. Boral Capital LLC (f/k/a EF Hutton LLC, division of Benchmark
Investments, LLC) (the “Underwriter”). Under the Discharge Agreement, instead of receiving the full Deferred Commission in
cash at the closing of the business combination with Longevity and other parties thereto, the Underwriter will accept (1) $500,000 in
cash at the time of the closing; (2) a $1,475,000 promissory note executed by the Company and Longevity (“D. Boral Note”)
in which the Company (upon closing) is obligated to pay the Underwriter in cash by the maturity date; and (3) 147,500 shares of the Company’s
common stock, which when multiplied by the $10.00 per share price agreed to between the parties equals $1,475,000 and which shall be
issued and delivered to the Underwriter at the closing. The Discharge Agreement and D. Boral Note have no effect unless the Longevity
Business Combination is consummated. The Discharge Agreement and D. Boral Note have been disclosed by the Company on the Company’s
Current Report on Form 8-K filed with the SEC on February 11, 2025.

Right
of First Refusal

For
a period beginning on the closing of the Initial Public Offering and ending twenty-four (24) months from the closing of a Business Combination,
the Company granted the Underwriter a right of first refusal to act as lead-left book running manager and lead left manager for any and
all future private or public equity, convertible and debt offerings during such period.

Note
7 - Stockholders’ Deficit

Preferred
Shares - The Company is authorized to issue 1,000,000 preferred shares with a par value of $0.0001 per share with such designation,
rights and preferences as may be determined from time to time by the Company’s Board of Directors. At June 30, 2025 and December
31, 202