FutureTech II Acquisition Corp. Completes Charter Amendment and Extension of Business Combination Period

FutureTech II Acquisition Corp. (NASDAQ:FTIIU) recently filed a Form 8-K with the Securities and Exchange Commission, detailing significant corporate developments as of November 18, 2024. The company, a Delaware corporation, obtained approval from its stockholders for the Founder Share Amendment Proposal at a special meeting.

The Founder Share Amendment Proposal was a key agenda item aimed at amending the company’s existing certificate of incorporation. This amendment, known as the Charter Amendment, enables holders of Class B common stock to convert those shares into Class A common stock on a one-to-one basis. The purpose of this proposal is to facilitate compliance with the Nasdaq Global Market’s Listing Rule, specifically ensuring a minimum market value of listed securities at $50 million for thirty consecutive trading days.

Following stockholder approval, FutureTech II swiftly implemented and submitted the Charter Amendment to the Secretary of State of Delaware. In parallel, the company also filed for an extension of its business combination period. The extension grants FutureTech II the flexibility to conduct a business combination until August 18, 2025, subject to further potential extensions. Included in this extension is a provision for holders of Class B common stock to convert those shares into Class A common stock, aligning with Nasdaq compliance requirements.

At the special meeting, approximately 76.8% of entitled shares were present, with notable approval rates for both the Charter Amendment Proposal and the Founder Share Amendment Proposal. The former received 71.64% approval, while the latter garnered 75.09% of outstanding common shares’ approval when voted together as a single class. Furthermore, 100% of holders of outstanding Class B Common Stock voted in favor of the Founder Share Amendment Proposal.

In line with the stockholders’ decisions, approximately 1,564,549 shares of FutureTech II’s publicly traded common stock were tendered for redemption post the Special Meeting. The completion of these amendments and the subsequent shareholder actions signal strategic moves by FutureTech II to solidify its operational structure and uphold compliance standards within the relevant regulatory frameworks.

Please note that this report is for informational purposes only and does not constitute any form of proxy solicitation, offering, or sale of securities. It is a disclosure of the recent corporate activities of FutureTech II Acquisition Corp as filed with the SEC.

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.

FutureTech II Acquisition Company Profile

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.