FutureTech II Acquisition Discloses Overpayment in Stock Redemption Process

On February 14, 2024, FutureTech II Acquisition Corp. (NASDAQ:FTIIU) conducted a special meeting of stockholders, termed the “Second Extension Meeting,” where holders of 3,236,915 shares of the Company’s Class A common stock, known as the “Public Shares,” opted to redeem their shares for a pro rata portion of funds from the Company’s trust account. A redemption payment was subsequently issued on February 22, 2024, to these redeeming stockholders through Continental Stock Transfer & Trust Company.

Upon review, it was found that the Company had not withdrawn all interest from the Trust Account, which led to an overpayment in the redemption process. The overpaid amount, identified as the “Second Extension Overpayment Amount,” totals $0.11178649 per share. As a result, the Second Extension Redeeming Stockholders are being notified of the situation and are required to return the excess payment to Continental Stock Transfer & Trust Company.

In light of these developments, the Company has underscored a cautionary note regarding forward-looking statements embedded in this Form 8-K filing. These statements are primarily related to future events and results and are governed by the safe harbors instituted under the Private Securities Litigation Reform Act of 1995. The Company’s management insists on the unpredictability of these forward-looking statements, which are inherently subject to risks, uncertainties, and assumptions.

The disclosure also elaborates on the variability that may arise between the predictions and the actual outcomes, highlighting the importance of reviewing risk factors delineated in the Company’s filings with the Securities and Exchange Commission (SEC). It advises against undue reliance on forward-looking statements and asserts the Company’s commitment to refraining from revision or update obligations unless mandated by specific circumstances.

For further queries on the content of this disclosure, stakeholders are encouraged to reach out to Continental Stock Transfer & Trust Company at [email protected].

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read FutureTech II Acquisition’s 8K filing here.

About FutureTech II Acquisition

FutureTech II Acquisition Corp. does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It focuses on business operating in the technology industry, including artificial intelligence (AI), robotic process automation, and other related technology market.