Company: FGMCU
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001104659-25-004764
Chunk: 273

Company: FG Merger II Corp.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 273
---
 a partnership holding our securities, you are urged to consult your tax advisor regarding the tax consequences
of the acquisition, ownership and disposition of our securities.

This discussion is based on the Internal Revenue
Code of 1986, as amended (the “Code”), and administrative pronouncements, judicial decisions and final, temporary and proposed
Treasury regulations as of the date hereof, which are subject to change, possibly on a retroactive basis, and changes to any of which
subsequent to the date of this prospectus may affect the tax consequences described herein. No ruling from the Internal Revenue Service
(the “IRS”) has been or will be sought regarding any tax matter discussed herein. The IRS may disagree with the discussion
herein, and its determination may be upheld by a court. Moreover, there can be no assurance that future legislation, regulations, administrative
rulings or court decisions will not adversely affect the accuracy of the statements in this discussion. This discussion does not address
any aspect of state, local or non-U.S. taxation, or any U.S. federal taxes other than income taxes (such as gift and estate taxes).

You should consult your tax advisor with respect
to the application of U.S. federal tax laws to your particular situation, as well as any tax consequences arising under the laws of any
state, local or foreign jurisdiction.

THIS DISCUSSION IS ONLY A SUMMARY OF CERTAIN U.S.
FEDERAL INCOME TAX CONSIDERATIONS ASSOCIATED WITH THE ACQUISITION, OWNERSHIP AND DISPOSITION OF OUR SECURITIES. EACH PROSPECTIVE INVESTOR
IN OUR SECURITIES IS URGED TO CONSULT ITS OWN TAX ADVISOR WITH RESPECT TO THE PARTICULAR TAX CONSEQUENCES TO SUCH INVESTOR OF THE ACQUISITION,
OWNERSHIP AND DISPOSITION OF OUR SECURITIES, INCLUDING THE APPLICABILITY AND EFFECT OF ANY U.S. FEDERAL NON-INCOME, STATE, LOCAL,
AND NON-U.S. TAX LAWS.

Personal Holding Company Status

We could be subject to a second level of U.S.
federal income tax on a portion of our income if we are determined to be a personal holding company, or PHC, for U.S. federal income
tax purposes. A U.S. corporation generally will be classified as a PHC for U.S. federal income tax purposes in a given taxable year if
(i) at any time during the last half of such taxable year, five or fewer individuals (