Company: FVN
Filing Date: 2025-01-07
Form Type: DRS/A
Source: 0001829126-25-000092
Chunk: 248

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-01-07
Form: DRS/A
Chunk 248
---
ANCIAL CONDITION AND
RESULTS OF OPERATIONS OF FUTURE VISION</div>

Unless the context otherwise requires, all references in this section to “Future Vision,” the “Company,” “we,” “us,” or “our” refers to Future Vision II Acquisition Corporation prior to the consummation of the Business Combination.

The following discussion should be read in conjunction with our financial statements and footnotes thereto for the period from January 30, 2024 (Inception) through September 30, 2024, which are included elsewhere in this proxy statement.

Overview

On September 13, 2024, we consummated our IPO of 5,000,000 Units, at $10.00 per public unit, generating gross proceeds of $50,000,000, and incurring offering costs of $1,845,513. We granted the underwriter a 45-day option to purchase up to an additional 750,000 Units at the IPO price to cover over-allotments, if any. As of September 13, 2024, the over-allotment option was exercised, generating gross proceeds of $7,500,000 and deposited into the Trust Account. Meanwhile, 57,500 ordinary shares were issued to the underwriter at the closing of the IPO as representative shares, and 28,750 representative shares will be issued as the deferred underwriting commission at the consummation of a Business Combination.

Simultaneously with the consummation of the closing of the IPO, we consummated the private placement of an aggregate of 299,000 units to the Sponsor at a price of $10.00 per private unit, generating gross proceeds of $2,990,000. The private units are identical to the public units except that the Sponsor is not eligible to partake in Future Vision share redemption or liquidation distributions.

Following the closing of the IPO on September 13, 2024, an amount of $57,500,000 ($10.00 per public unit) from the net proceeds of the sale of the Units in the IPO and a portion of the proceeds from the sale of the Placement Units was placed in a trust account (“Trust Account”) and established for the benefit of the Company’s public shareholders and the underwriters of the IPO with Wilmington Trust, National Association acting as trustee.

Currently, we have no revenue, have had losses since inception from incurring formation and operating costs and have had no operations other than identifying and evaluating suitable acquisition transaction candidates. We