Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 230

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 230
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, fully cooperated with the SEC’s investigation, and filed a claim of its own. As of July 2024, the SEC completed its investigation. Mr. Wollney asked whether BOXABL has provided sufficient information about this matter, and Mr. Baqar confirmed that it had, and added that the SEC’s conclusion of the matters brings additional comfort on this issue.

Mr. Baqar then provided a tax and financial overview of BOXABL.

After a robust discussion and questions from various board members, the board of directors of FGMC confirmed that they would approve the transaction via written consent on August 4, 2025, unless any material changes occured, at which point the board would reconvene as needed.

On August 4, 2025 the board of directors of FGMC executed a unanimous written consent approving the Business Combination and the related transactions and the parties then executed and delivered the Merger Agreement. The transaction was announced on August 5, 2025. Subsequently, on September 15, 2025, the FGMC board of directors unanimously approved the Plan of Conversion as set forth in Annex B-1 hereto.

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Benefits and Detriments of the Business Combination The following table presents certain benefits and detriments of the transactions to the indicated parties.

| Party                                             |   | Benefits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Detriments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| FGMC                                              | ​ | Failure to complete a business combination would result in FGMC and the Trust Account being liquidated. The Business Combination would create value for FGMC and its stockholders.                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | ​ | FGMC could potentially have found a target that may have a more optimal risk/return profile than BOXABL. In this case, FGMC, its stockholders and affiliates would stand to benefit more than in the Business Combination with BOXABL.                                                                                                                                                                                                                                                                                                                           |
| Sponsor and its affiliates                        | ​ | Failure to complete a business combination would result in FGMC and the Trust Account being liquidated, and the Sponsor’s investment in shares of FGMC Common Stock and FGMC Private Placement Units and the $15 Private Warrants would be worthless. The Business Combination would create value for the Sponsor and its affiliates.                                                                                                                                                                                                                                                                                                                          | ​ | FGMC could potentially have found a target that may have a more optimal risk/return profile than BOXABL. In this case, FGMC, its stockholders (including the Sponsor) and affiliates would stand