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FutureTech II Acquisition Corp. (NASDAQ:FTII), a micro-cap company with a market capitalization of approximately $60 million, has successfully regained compliance with Nasdaq’s listing rules, the company revealed on Thursday.
The compliance notice, received on February 12, 2025, marks the resolution of previous deficiencies and ensures that the company’s securities will continue trading on the Nasdaq Stock Market. According to InvestingPro data, the stock currently trades at $11.01, with a notably high P/E ratio of 138.3.
The blank check company, which operates under the name 05 Real Estate & Construction, faced potential delisting issues following notifications from Nasdaq in late 2024 and early 2025. These notifications cited non-compliance with certain listing requirements. However, the determination letter from Nasdaq confirmed that FutureTech II had rectified the issues outlined in previous communications, specifically those mentioned in a letter from January 15, 2025.
The initial notice of non-compliance had been a significant concern for the company, potentially impacting its trading status on Nasdaq. However, the recent communication confirms that FutureTech II has met the necessary conditions to maintain its listing, thereby closing the matter.
The news of sustained listing compliance is based on a recent SEC filing by FutureTech II. The company, with its headquarters in New Rochelle, NY, and led by CEO Ray Chen, operates within the blank check sector, which is typically associated with companies seeking merger or acquisition opportunities.
Investors in FutureTech II’s common stock (FTII), units (FTIIU), and redeemable warrants (FTIIW) may find reassurance in the company’s ability to address and resolve the listing compliance issues. The turnaround reflects the management’s efforts to adhere to the stringent regulatory standards set by Nasdaq, which are designed to protect investors and maintain fair trading practices.
Year-to-date, the stock has experienced a -7.56% return and is currently trading near its 52-week low of $10.1, as revealed by InvestingPro data, which offers additional insights through its comprehensive financial analysis tools.
This development is a positive step for FutureTech II, as it continues its operations without the looming threat of delisting from a major stock exchange. The company’s compliance with Nasdaq’s rules is essential for its continued access to capital markets and the trust of its investors.
In other recent news, FutureTech II Acquisition Corp. has been involved in several significant developments. The company has restructured its IPO debt with Longevity Biomedical and D. Boral (OTC:BOALY) Capital LLC, altering the deferred underwriting commission owed to D. Boral Capital. The new arrangement involves a cash payment, a promissory note, and the issuance of FutureTech’s common stock to D. Boral.
FutureTech II Acquisition Corp. also finalized a subscription agreement with investor Yuantian Zhang, who will purchase 1,000,000 shares of FutureTech’s Class A Common Stock. This transaction is a part of FutureTech’s planned merger with Longevity Biomedical, Inc.
In addition, FutureTech II Acquisition Corp. acknowledged an overpayment error in the redemption of certain stockholder shares and is currently in the process of rectifying the situation.
The company also faced a potential delisting from The Nasdaq Stock Market LLC for failing to file its quarterly report on time but was granted a conditional extension by Nasdaq’s Hearings Panel.
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