FutureTech II Acquisition Corp. Withdraws Financial Statements
Ticker: FTII · Form: 8-K · Filed: Nov 26, 2024 · CIK: 1889450
Sentiment: bearish
Topics: financial-restatement, accounting-issue, non-reliance
Related Tickers: FTII
TL;DR
FTII is restating financials, big red flag for investors.
AI Summary
FutureTech II Acquisition Corp. announced on November 22, 2024, that it will not rely on previously issued financial statements. This decision impacts financial reporting and potentially investor confidence.
Why It Matters
This filing indicates potential issues with past financial reporting, requiring restatement and potentially affecting the company's financial health and investor trust.
Risk Assessment
Risk Level: high — Non-reliance on previously issued financial statements suggests significant accounting or reporting errors, which can lead to substantial financial and reputational damage.
Key Players & Entities
- FutureTech II Acquisition Corp. (company) — Registrant
- November 22, 2024 (date) — Date of earliest event reported
- 001-41289 (other) — Commission File Number
- 87-2551539 (other) — IRS Number
FAQ
What specific financial statements are being withdrawn by FutureTech II Acquisition Corp.?
The filing states that the company will not rely on 'previously issued financial statements or a related audit report or completed interim review'.
What is the effective date of this announcement for FutureTech II Acquisition Corp.?
The date of the earliest event reported is November 22, 2024.
What is the Commission File Number for FutureTech II Acquisition Corp.?
The Commission File Number is 001-41289.
What is the IRS number for FutureTech II Acquisition Corp.?
The IRS number is 87-2551539.
What is the primary reason for filing this Form 8-K?
The filing is made under Item Information: Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
Filing Stats: 2,032 words · 8 min read · ~7 pages · Grade level 18.1 · Accepted 2024-11-26 14:08:16
Key Financial Figures
- $0.0001 — tock Market LLC Class A Common Stock, $0.0001 par value per share FTII The Nasdaq
- $11.50 — A Common Stock at an exercise price of $11.50 per share FTIIW The Nasdaq Stock Ma
- $10.80798622 — ion Redeeming Stockholders at a rate of $10.80798622 per share (the " First Redemption Payme
- $11.20881763 — ion Redeeming Stockholders at a rate of $11.20881763 per share (the " Second Redemption Paym
Filing Documents
- form8-k.htm (8-K) — 58KB
- 0001493152-24-047777.txt ( ) — 291KB
- ftii-20241122.xsd (EX-101.SCH) — 4KB
- ftii-20241122_def.xml (EX-101.DEF) — 30KB
- ftii-20241122_lab.xml (EX-101.LAB) — 37KB
- ftii-20241122_pre.xml (EX-101.PRE) — 27KB
- form8-k_htm.xml (XML) — 7KB
Financial Statements or with respect to any additional accounting errors
Financial Statements or with respect to any additional accounting errors. Management and the Audit Committee have discussed the matters disclosed pursuant to this Item 4.02 with Adeptus Partners, LLC, the Company's independent registered public accounting firm. Cautionary Note Regarding Forward Looking Statements : This Current Report on Form 8-K contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Private Securities Litigation Reform Act of 1995, including statements regarding the expected impacts of the restatements of the Affected Financial Statements and the Company's plans to file the Amended 10-K and the Amended 10-Qs. These statements reflect the beliefs and assumptions of the Company's management as of the date hereof. Words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "plan," "project," "seek," "should," "target," "will," "would," variations of such words, and similar expressions are intended to identify forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. The Company's actual results could differ materially and adversely from those expressed in or contemplated by the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, those risk factors contained in the Company's SEC filings available at www.sec.gov, including without limitation, the Company's annual report on Form 10-K, quarterly reports on Form 10-Q and subsequent filings. In addition, these risks and uncertainties include, but are not limited to, the discovery of additional information relevant to the periods covered by the Affected Financial Statements or other periods, changes in the effects of the restatements on the Company's financial statement
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FUTURETECH II ACQUISITION CORP. Date: November 26, 2024 By: /s/ Ray Chen Name: Ray Chen Title: Chief Executive Officer