Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 342

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 342
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 were required to eliminate activities between companies.

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The following unaudited Pro Forma condensed combined financial information has been prepared in accordance with Article 11 of Regulation S-X as amended by the final rule, Release No. 33-10786 “ Amendments to Financial Disclosures about Acquired and Disposed Businesses.” Release No. 33-10786 replaces the existing Pro Forma adjustment criteria with simplified Pro Forma adjustments that depict the accounting for the transaction (“ Transaction Accounting Adjustments”) and allows optional Pro Forma adjustments that present the reasonably estimable synergies and other transaction effects that have occurred or are reasonably expected to occur. BOXABL and FGMC have elected not to present any estimates related to potential synergies and other transaction effects that are reasonably expected to occur or have already occurred and will only be presenting Transaction Accounting Adjustments in the unaudited Pro Forma condensed combined financial information. FGMC does not meet the definition of a “business” pursuant to ASC 805-10-55 as it is an empty listed shell holding only cash raised as part of its original equity issuance. As a result, the Business Combination does not qualify as a “business combination” within the meaning of ASC 805, Business Combinations; rather, the Business Combination will be accounted for as a reverse merger in accordance with U.S. GAAP. See Note 3 — Accounting for the Business Combination for more details. The historical financial statements of BOXABL have been prepared in accordance with U.S. GAAP. The historical financial statements of FGMC have been prepared in accordance with U.S. GAAP. The unaudited Pro Forma condensed combined financial information reflects U.S. GAAP, the basis of accounting used by BOXABL. FGMC has elected to provide the unaudited Pro Forma condensed combined financial information under three different Redemption scenarios of FGMC’s Public Shares into cash as more fully described below:

| ● | Scenario 1 — Assuming No Redemptions: This presentation assumes that no public stockholders of FGMC exercise Redemption rights with respect to their Public Shares upon consummation of the Business Combination |

| ● | Scenario 2 — 50% Redemption Scenario: The “50% Redemption Scenario” assumes that 4,000,000 FGMC Public Shares are redeemed, resulting in an aggregate cash payment of approximately $80.85 million out of the Trust Account based on an assumed redemption price of $10.23 per share |

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