Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 567

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 567
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preciable life of assets and leasehold improvements are limited by the expected lease term. The Company’s lease agreements do not contain any material residual value

F- 74

guarantees or material restrictive covenants. Certain subsidiaries of the Company rent or sublease certain office space to/from other subsidiaries of the Company. Maturities of lease liabilities for operating leases as of June 30, 2025, were as follows:

| ​                                       
 Remaining lease payments (In Thousands) | ​ | ​           
 Fiscal year |     ​ |
|:----------------------------------------|:--|:------------|------:|
| 2025                                    | ​ | $           | 2,019 |
| 2026                                    | ​ |             | 3,839 |
| 2027                                    | ​ |             | 2,102 |
| 2028                                    | ​ |             | 1,509 |
| Thereafter                              | ​ |             |   258 |
| Total lease payments                    | ​ | $           | 9,727 |
| Less: Imputed interest                  | ​ |             |  -770 |
| Total lease liability                   | ​ | $           | 8,957 |

As of June 30, 2025 and December 31, 2024, the weighted average remaining lease term was 2.7 years and 3.1 years, respectively. As of June 30, 2025 and December 31, 2024, the weighted average incremental borrowing rate was 5.6% and 5.5%, respectively. No ROU asset is recorded for leases with a lease term, including any reasonably assured renewal terms, of 12 months or less. Upon adoption of ASC 842, the Company also recorded lease liabilities computed as the present value of future minimum lease payments, including reductions from any landlord incentives, plus any additional direct costs from executing the leases. Lease liabilities are amortized using the effective interest method using a discount rate of 4%. Depreciation on the ROU asset is calculated as the difference between the expected straight-line rent expense over the lease term less the accretion on the lease liability. The Company recognizes a right-of-use asset and a lease liability for these operating leases in its consolidated balance sheets. The Company’s lease agreements also include obligations for the Company to pay for other services, including operations and maintenance. The Company accounts for these services separately. NOTE 11 — RELATED PARTY TRANSACTIONS The Company had the following transactions with