Business Combination - The deadline for the Company to complete its initial business combination is August 18, 2025, as approved by stockholders[29]. - The Company entered into a Merger Agreement with Longevity Biomedical Inc. on September 16, 2024, focusing on biopharmaceutical advancements[30]. - Following the Merger, Longevity will become a wholly-owned subsidiary of the Company, and the Company will change its name to "Longevity Biomedical, Inc."[31]. - The Merger Agreement includes a Voting and Support Agreement with Longevity's sole stockholder, ensuring approval of the transactions[32]. - The Company is required to complete initial business combinations with an aggregate fair market value of at least 80% of the assets held in the trust account[51]. - The Company anticipates structuring its initial business combination to acquire 100% of the equity interests or assets of the target business[53]. - The Company may issue a substantial number of new shares in exchange for the target's outstanding capital stock, potentially leading to stockholders owning less than a majority of shares post-transaction[54]. - The Company has filed an initial Form S-4 with the SEC regarding the Longevity Business Combination on February 14, 2025[35]. Growth Strategy - The Company has identified biomedical life science, artificial intelligence, and robotics as key sectors for growth and acquisition opportunities[37]. - The Company aims to acquire businesses with proprietary technology and significant market positions, focusing on operational improvements[41]. Financial Management - The net proceeds from the Initial Public Offering and the sale of placement units may be used for general corporate purposes, including maintenance or expansion of operations post-transaction[55]. - There is no limitation on the ability to raise funds through equity or debt securities in connection with the initial business combination[56]. - The company is not currently party to any arrangement for raising additional funds through the sale of securities[56]. - Prior to the consummation of the initial business combination, the company is prohibited from issuing additional securities that would entitle holders to receive funds from the trust account[57]. Company Operations - The company currently has one officer who devotes time as deemed necessary to the affairs of the company until the initial business combination is completed[58]. - The executive offices are located at 128 Gail Drive, New Rochelle, New York 10805[59]. Market Risk - Quantitative and qualitative disclosures about market risk are not required for smaller reporting companies[172].
FutureTech II Acquisition (FTII) - 2024 Q4 - Annual Report