Company: FGMCU
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001104659-25-004764
Chunk: 327

Company: FG Merger II Corp.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 327
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20% of the Company’s issued and outstanding shares after the Proposed Offering (assuming
the Initial Stockholders do not purchase any Public Shares in the Proposed Offering and excluding the securities underlying the $15 Private
Warrants, the Private Units).

The Initial Stockholders have agreed not to transfer, assign or sell
any of the Founder Shares (except to certain permitted transferees) until, with respect to 50% of the Founder Shares, the earlier of
(i) twelve months after the date of the consummation of a Business Combination, or (ii) the date on which the closing price
of the Company’s common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations
and recapitalizations) for any 20 trading days within any 30-trading day period commencing after a Business Combination, with respect
to the remaining 50% of the Founder Shares, 12 months after the date of the consummation of a Business Combination, or earlier, in each
case, if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, stock exchange or other similar
transaction which results in all of the Company’s stockholders having the right to exchange their Public Shares for cash, securities
or other property.

<div align='center'>F-11</div>

Promissory Notes

On October 6, 2023, the Company issued a Promissory Note to the
Sponsor, pursuant to which the Company may borrow up to an aggregate principal amount of $150,000. As of December 31, 2023, there
was $125,000 outstanding under the Promissory Notes. The Promissory Notes are noninterest bearing and payable on the earlier of (i) the
consummation of the Proposed Offering or (ii) the date on which the Company determines not to conduct the Proposed Offering.

Due to Sponsor

Included in the accrued offering cost on the Company’s balance
sheet, $25,000 is due to Sponsor for expenses paid by the Sponsor on behalf of the Company.

Administrative Services Agreement

Upon closing of the Proposed Offering, the Company intends to enter
into an administrative services agreement (the “Administrative Services Agreement”) with the Sponsor whereby the Sponsor
will perform certain services for the Company for a monthly fee of $15,000.

Both executive officer and a director of the Company will serve as
managers of the Sponsor at close of the Proposed Offering