Company: FVN
Filing Date: 2025-05-02
Form Type: S-4
Source: 0001829126-25-003304
Chunk: 138

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-02
Form: S-4
Chunk 138
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 under current SEC rules and regulations if more than 50% of New VIWO’s outstanding voting securities become directly or indirectly held of record by U.S. holders and any one of the following is true: (i) the majority of New VIWO’s directors or executive officers are U.S. citizens or residents; (ii) more than 50% of New VIWO’s assets are located in the United States; or (iii) New VIWO’s business is administered principally in the United States. If New VIWO loses its status as a foreign private issuer in the future, it will no longer be exempt from the rules described above and, among other things, will be required to file periodic reports and annual and quarterly financial statements as if it were a company incorporated in the United States. If this were to happen, New VIWO would likely incur substantial costs in fulfilling these additional regulatory requirements and members of New VIWO’s management would likely have to divert time and resources from other responsibilities to ensuring these additional regulatory requirements are fulfilled.

As an exempted company incorporated in the Cayman Islands, New VIWO will be permitted to adopt certain home country practices in relation to corporate governance matters that differ significantly from the Nasdaq listing standards; these practices may afford less protection to shareholders than they would enjoy if New VIWO complied fully with the Nasdaq listing standards.

As a Cayman Islands exempted company intending to apply to list its securities on Nasdaq, New VIWO will be subject to the Nasdaq corporate governance listing standards. However, the Nasdaq rules will permit a foreign private issuer like New VIWO to follow the corporate governance practices of New VIWO’s home country (assuming New VIWO converts to foreign private issuer on the first available determination date). Certain corporate governance practices in the Cayman Islands, which is New VIWO’s home country, may differ significantly from the Nasdaq corporate governance listing standards. For instance, New VIWO will not be required to:

| ● | have a majority of the board be independent (although all of the members of the audit committee must be independent under the Exchange Act);                                                                                                                                                       |
| ● | have a compensation committee or a nominations or corporate governance committee consisting entirely of independent directors; or                                                                                                                                                                  |
| ● | have regularly scheduled executive sessions with only independent directors each year.                                                                                                                                                                                                             |
|   | In addition, New VIWO currently does not intend to hold an annual general meeting or annual director elections, which may severely limit shareholders’ ability to influence corporate governance decisions, including changing directors, approving merg