Company: FGMCU
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001104659-25-004764
Chunk: 311

Company: FG Merger II Corp.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 311
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. The Founder Shares include an aggregate of up to 300,000 shares
subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment is not exercised in full or in part, so
that the Initial Stockholders will collectively own 20% of the Company’s issued and outstanding shares after the Proposed Offering
(assuming the Initial Stockholders do not purchase any Public Shares in the Proposed Offering and excluding the securities underlying
the $15 Private Warrants, the Private Units).

On August 21, 2024, Company issued a dividend of approximately
0.066 Founder Shares for every issued and outstanding founder share resulting in our initial stockholders holding an aggregate of 2,300,000
founder shares, an increase of 143,750 founder compared to 2,156,250 initial Founder Shares issued.

The Initial Stockholders have agreed not to transfer, assign or sell
any of the Founder Shares (except to certain permitted transferees) until, with respect to 50% of the Founder Shares, the earlier of
(i) twelve months after the date of the consummation of a Business Combination, or (ii) the date on which the closing price
of the Company’s common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations
and recapitalizations) for any 20 trading days within any 30-trading day period commencing after a Business Combination, with respect
to the remaining 50% of the Founder Shares, 12 months after the date of the consummation of a Business Combination, or earlier, in each
case, if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, stock exchange or other similar
transaction which results in all of the Company’s stockholders having the right to exchange their Public Shares for cash, securities
or other property.

<div align='center'>F-10</div>

Promissory Notes

On October 6, 2023, the Company issued a Promissory Note to the
Sponsor, pursuant to which the Company may borrow up to an aggregate principal amount of $150,000. As of September, 30, 2024, there
was $125,000 outstanding under the Promissory Notes. The Promissory Notes are noninterest bearing and payable on the earlier of (i) the
consummation of the Proposed Offering or (ii) the date on which the Company