Futuretech II Acquisition Corp.(FTIIU)

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Futuretech II Acquisition Corp.(FTIIU) - 2022 Q3 - Quarterly Report
2022-11-14 21:47
Financial Performance - The Company had a net income of $391,997 for the three months ending September 30, 2022, primarily due to interest earned on investments held in the Trust Account amounting to $557,708[110] - For the nine months ending September 30, 2022, the Company reported a net income of $194,381, offset by interest income of $674,998 against total administrative and operating costs of $520,617[111] Investments and Cash Position - As of September 30, 2022, the Company had $117,974,998 in investments held in the Trust Accounts, intended for the initial Business Combination[114] - As of September 30, 2022, the Company had cash of $328,500 outside of the Trust Accounts, primarily for identifying and evaluating target businesses[115] - Proceeds from the Initial Public Offering have been invested in U.S. government treasury bills, notes, or bonds with a maturity of 185 days or less[130] Initial Public Offering - The Company raised gross proceeds of $115,000,000 from its Initial Public Offering of 11,500,000 Units at $10.00 per Unit[112] - The Underwriter received a cash underwriting fee of $2,300,000, which is 2.0% of the gross proceeds from the Public Offering[123] Operating Activities and Costs - Cash used in operating activities for the nine months ended September 30, 2022, was $535,611[113] - The Company incurred $70,000 in fees under an agreement to pay an affiliate of the Sponsor for office space and administrative support from inception to September 30, 2022[122] Business Combination Plans - The Company intends to complete its proposed Business Combination before August 11, 2022, with plans to extend the deadline up to 18 months if necessary[119] Debt and Financing - The Company has no long-term debt or off-balance sheet financing arrangements as of September 30, 2022[120] Accounting Standards - The FASB issued ASU 2020-06, effective for fiscal years beginning after December 15, 2023, simplifying accounting for convertible instruments and diluted earnings per share calculations[128] - The company is currently assessing the impact of ASU 2020-06 on its financial position, results of operations, or cash flows[128] Risk Assessment - As of September 30, 2022, the company was not subject to any market or interest rate risk[130] - The company believes there will be no material exposure to interest rate risk due to the short-term nature of its investments[130]
Futuretech II Acquisition Corp.(FTIIU) - 2022 Q2 - Quarterly Report
2022-08-15 22:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________to ____________ Commission File Number: 001-40386 FutureTech II Acquisition Corp. (Exact name of registrant as specified in its charter) | Delaware | 87-2551539 ...
Futuretech II Acquisition Corp.(FTIIU) - 2022 Q1 - Quarterly Report
2022-05-16 21:25
FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the transition period from _______to_______ Washington, D.C. 20549 Commission File Number: 001-40983 FutureTech II Acquisition Corp. (Exact name of registrant as specified in its charter) Delaware 87-2551539 (State or othe ...
Futuretech II Acquisition Corp.(FTIIU) - 2021 Q4 - Annual Report
2022-03-31 19:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FUTURE TECH II ACQUISITION CORP. (Exact Name of Registrant as Specified in its Charter) Delaware 87-2551539 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identi ...