FutureTech II (NASDAQ: FTIIU) today announced the closing of its initial public offering of 10,000,000 units, each at a price of $10.00. Each unit consists of one share of Class A common stock and one warrant entitling the holder to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. The underwriters fully exercised the over-allotment option for an additional 1,500,000 units on Feb. 16, 2022, which closed concurrent with the closing of the offering. As a result, FutureTech II secured $115,000,000 in aggregate gross proceeds from the offering and over-allotment. The units began trading on the Nasdaq Global Market on Feb. 16, 2022, under the ticker symbol FTIIU. Once the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on the Nasdaq under the symbols FTII and FTIIW, respectively. EF Hutton, division of Benchmark Investments LLC, served as sole book-running manager for the offering. Nelson Mullins Riley & Scarborough LLP served as legal counsel to the company, and Seward & Kissel LLP served as legal counsel to EF Hutton.
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About FutureTech II Acquisition Corp.
FutureTech II is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company’s efforts to identify a prospective target business will not be limited to a particular industry or geographic location, although it currently intends to focus on opportunities to acquire U.S. companies in the disruptive technology sector, for example, artificial intelligence, robotics and any other technology innovations.
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