Company: FGMCU
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001104659-25-004764
Chunk: 84

Company: FG Merger II Corp.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 84
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 it is engaged primarily in a business other than investing,
reinvesting or trading of securities and that its activities do not include investing, reinvesting, owning, holding or trading “investment
securities” constituting more than 40% of our assets (exclusive of U.S. government securities and cash items) on an unconsolidated
basis.

The SEC recently provided guidance that the determination of whether
a special purpose acquisition company, like us, is an “investment company” under the Investment Company Act is a facts and
circumstances determination requiring individualized analysis and depends on a variety of factors, including a SPAC’s duration,
asset composition, business purpose and activities, and “is a question of facts and circumstances” requiring individualized
analysis. When applying these factors to us we do not believe that our principal activities will subject us to the Investment Company
Act. To this end, the Company was formed for the purpose of completing an initial business combination with one or more businesses. Our
business will be focused on identifying and completing an initial business combination, and thereafter, operating the post-transaction
business or assets for the long term. Further, we do not plan to buy businesses or assets with a view to resale or profit from their
resale and we do not plan to buy unrelated businesses or assets or to be a passive investor. In addition, the proceeds held in the trust
account will only be held as cash or in an interest bearing demand deposit account at a bank, or invested in United States “government
securities” within the meaning of Section 2(a)(16) of the Investment Company Act having a maturity of 185 days or less
or in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment Company Act which invest only
in direct U.S. government treasury obligations; the holding of these assets in this form is intended to be temporary and for the sole
purpose of facilitating the intended business combination. To mitigate the risk that we might be deemed to be an investment company for
purposes of the Investment Company Act, which risk increases the longer that we hold investments in the trust account, we may, at any
time (based on our management team’s ongoing assessment of all factors related to our potential status under the Investment Company
Act), instruct the trustee to liquidate the investments held in the trust account and instead to hold the funds in the trust account
in cash or in an interest bearing demand deposit account at a bank. Purs