Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 250

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 250
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| ● | Redemption Risk. The FGMC board of directors considered the risk that the current public stockholders of FGMC would redeem their FGMC Public Shares for cash in connection with the consummation of the Business Combination, thereby reducing the amount of cash available to the Combined Company following the consummation of the Business Combination. As of December 10, 2025, the Trust Account had approximately $82.0 million in cash, invested in U.S. government securities. Any redemptions of FGMC Public Shares in connection with the consummation of the Business Combination |

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| would reduce the amount of cash available to the Combined Company following the consummation of the Business Combination. This potential reduction in cash does not alter the FGMC board of directors’ recommendation. |

| ● | BOXABL’s Business Risks. The FGMC board of directors considered that FGMC stockholders would be subject to the execution risks associated with the Combined Company if they retained their FGMC Public Shares following the Closing, which were different from the risks related to holding FGMC Public Shares prior to the Closing. In this regard, the FGMC board of directors considered that there were risks associated with successful implementation of the Combined Company’s long-term business plan and strategy and the Combined Company realizing the anticipated benefits of the Business Combination on the timeline expected or at all, including due to factors outside of the parties’ control such as new regulatory requirements or changes to existing regulatory requirements, changes in the stock market or the market for BOXABL’s products generally and the potential negative impact of macroeconomic uncertainty. The FGMC board of directors considered that any of these risks, if materialized, may decrease the actual benefits of the Business Combination and that FGMC stockholders may not fully realize these benefits to the extent that they expected to retain the FGMC Public Shares following the completion of the Business Combination. For additional description of these risks, please see the section entitled “Risk Factors.” |

| ● | Post-Business Combination Corporate Governance. The FGMC board of directors considered the corporate governance provisions of the Merger Agreement and the Proposed Organizational Documents and the effect of those provisions on the governance of the Combined Company following the Closing. Given that the existing equityholders of BOXABL will collectively control shares representing a majority of the Combined Company’s total outstanding shares of common stock upon completion of the Business Combination, the existing equityholders of BOXABL may be able to elect future directors and make other decisions (including approving certain transactions involving the Combined Company and other corporate actions