Company: FGMCU
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001104659-25-004764
Chunk: 144

Company: FG Merger II Corp.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 144
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 of the private placement securities, the proceeds of the sale of our shares in connection with our initial business combination
(including any cash received from the sale of common stock pursuant to forward purchase agreements or backstop agreements we may enter
into following the consummation of this offering or otherwise), shares issued to the owners of the target, debt issued to bank or other
lenders or the owners of the target, or a combination of the foregoing.

The issuance of additional shares in connection with a business combination
to the owners of the target or other investors:

| ● | may significantly dilute the equity     
 interest of investors in this offering; |

| ● | may subordinate the rights of holders                                                                          
 of common stock if shares of preferred stock are issued with rights senior to those afforded our common stock; |

| ● | could cause a change in control                                                                                                    
 if a substantial number of shares of our common stock are issued, which may affect, among other things, our ability to use our net 
 operating loss carry forwards, if any, and could result in the resignation or removal of our present officers and directors;       |

| ● | may have the effect of delaying                                                                                                   
 or preventing a change of control of us by diluting the share ownership or voting rights of a person seeking to obtain control of 
 us; and                                                                                                                           |

| ● | may adversely affect prevailing                   
 market prices for our common stock and/or rights. |

Similarly, if we issue debt securities or otherwise incur significant
debt to bank or other lenders or the owners of a target, it could result in:

| ● | default and foreclosure on our assets                                                                           
 if our operating revenues after an initial business combination are insufficient to repay our debt obligations; |

| ● | acceleration of our obligations                                                                                                    
 to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require 
 the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;                        |

| ● | our immediate payment of all principal                          
 and accrued interest, if any, if the debt is payable on demand; |

| ● | our inability to obtain necessary                                                                                                   
 additional financing if the debt contains covenants restricting our ability to obtain such financing while the debt is outstanding; |

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| ● | our inability to pay dividends on 
 our common stock;                 |

| ● | using a substantial portion of our                                                                                                        
 cash flow to pay principal and interest on our debt, which