Company: FGMCU
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001104659-25-004764
Chunk: 257

Company: FG Merger II Corp.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 257
---
able, assignable or salable until 30 days after the completion of our initial business
combination (except, among other limited exceptions as described under “Principal Stockholders — Transfers of Founder Shares
and 15 Exercise Price Warrants,” to our officers and directors and other persons or entities affiliated with the initial purchasers
of the 15 Exercise Price Warrants) and they will not be redeemable by us and will be exercisable on a cashless basis. In addition, the
$15 Exercise Price Warrants will expire at 5:00 p.m. New York City Time ten years after the consummation our initial business combination.

If holders of the $15 Exercise Price Warrants elect to exercise them
on a cashless basis, they would pay the exercise price by surrendering his, her or its warrants for that number of shares of common stock
equal to the quotient obtained by dividing (x) the product of the number of shares of common stock underlying the warrants, multiplied
by the excess of the “fair market value” of our common stock (defined below) over the exercise price of the warrants by (y) the
fair market value. The “fair market value” will mean, as of any date, the average last reported sale price of the common
stock as reported during the ten (10) trading day period ending on the trading day prior to such date.

Our initial stockholders have agreed not to transfer, assign or sell
any of the $15 Exercise Price Warrants (including the common stock issuable upon exercise of any of these warrants) until the date that
is 30 days after the date we complete our initial business combination, except that, among other limited exceptions as described under
“Principal Stockholders — Transfers of Founder Shares and $15 Exercise Price Warrants,” transfers can be made to our
officers and directors and other persons or entities affiliated with the sponsor.

We have agreed that as soon as practicable, but in no event later
than fifteen (15) business days after the completion of our initial business combination, we will use our best efforts to file with the
SEC a registration statement for the registration, under the Securities Act, of the common stock issuable upon exercise of the warrants.
We will use our best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement,
and a current prospectus relating thereto, until the expiration of the warrants in accordance with the provisions of the warrant agreement.

Rights

Except in cases where we