8-K
filed August 17, 2023, 7:59 PM ET
CIK 0001889450
other material
confidence high
sentiment negative
materiality 0.80
FutureTech II Acquisition extends deadline to Feb 18, 2024; $64.2M redeemed
FutureTech II Acquisition Corp.
- Stockholders approved charter amendment to extend deadline from Aug 18, 2023 to Feb 18, 2024, with up to six monthly extensions.
- Sponsor must deposit $125K or $0.04 per non-redeemed share each month into trust for extension, via promissory note.
- Holders of 5,943,650 shares redeemed at ~$10.81/share for aggregate ~$64.2 million.
- Trust account initially held $117.3M; after redemptions, ~$53.1M remains for future business combination.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
FutureTech II Acquisition Corp.: Amended certificate of incorporation to extend business combination deadline from August 18, 2023 to February 18, 2024, with monthly extension options and trust deposits (effective 2023-08-17).
- Change
- charter amendment
- Effective
- 2023-08-17
Exact text from the filing
the Company filed an amendment to its amended and restated certificate of incorporation (the “ Charter ”) with the Delaware Secretary of State on August 17, 2023 (the “ Charter Amendment ”), to extend the date by which the Company has to consummate a business combination for an additional six months, from August 18, 2023 (the “ Termination Date ”) to up to February 18, 2024
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
FutureTech II Acquisition Corp. amended Amendment to Investment Management Trust Agreement with Continental Stock Transfer & Trust Company valued at Extension of liquidation commencement date to February 18, 2024; Sponsor deposit of lesser of $125,0 (effective 2023-08-17).
- Action
- amendment
- Counterparty
- Continental Stock Transfer & Trust Company
- Value
- Extension of liquidation commencement date to February 18, 2024; Sponsor deposit of lesser of $125,0
- Effective
- 2023-08-17
Exact text from the filing
As approved by its stockholders at the special meeting of stockholders held on August 17, 2023 (the “ Special Meeting ”), FutureTech II Acquisition Corp. (the “ Company ”) entered into an amendment to the Investment Management Trust Agreement, dated as of February 18, 2022 (the “ Trust Agreement ”), with Continental Stock Transfer & Trust Company (“ Continental ”), on August 17, 2023 (the “ Trust Amendment ”).
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
FutureTech II Acquisition Corp. shareholders approved Amend the Company's Charter to extend the date to consummate a business combination at the 2023-08-17 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-08-17
Exact text from the filing
1. Charter Amendment Proposal The stockholders approved the proposal to amend the Company’s Charter, to extend the date by which the Company has to consummate a business combination for an additional six months, from the Termination Date to the Extended Date, provided that the Sponsor (or its affiliates or permitted designees) will deposit into the Trust Account the lesser of: (i) $125,000 and (ii) an aggregate amount equal to $0.04 multiplied by the number of public shares of the Company that are not redeemed for each such one-month extension unless the closing of the Company’s initial business combination shall have occurred, in exchange for a non-interest bearing, unsecured promissory note payable upon consummation of a business combination. The voting results were as follows: FOR AGAINST ABSTAIN BROKER NON-VOTES 10,843,041 682,500 - -
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
FutureTech II Acquisition Corp. shareholders approved Amend the Trust Agreement to provide for the Extension at the 2023-08-17 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-08-17
Exact text from the filing
2. Trust Amendment Proposal The stockholders approved the proposal to amend the Trust Agreement, dated February 18, 2022, by and between the Company and Continental, to provide for the Extension to the Extended Date pursuant to the Charter Amendment. The voting results were as follows: FOR AGAINST ABSTAIN BROKER NON-VOTES 10,843,041 682,500 - -
View on SEC.gov
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