Company: FVN
Filing Date: 2025-03-27
Form Type: DRS/A
Source: 0001829126-25-002094
Chunk: 524

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-27
Form: DRS/A
Chunk 524
---

In December 2023, the FASB issued ASU 2023-09,
Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which requires disclosure of incremental income tax information
within the rate reconciliation and expanded disclosures of income taxes paid, among other disclosure requirements. ASU 2023-09 is effective
for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company’s management does not believe
the adoption of ASU 2023-09 will have a material impact on its financial statements and disclosures.

Management does not believe that any recently
issued, but not effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial
statements.

Note 3 — Initial Public Offering

On September 13, 2024, the Company consummated
its IPO of 5,000,000 Units, at $10.00 per Unit, generating gross proceeds of $50,000,000. The Company granted the underwriter a 45-day
option to purchase up to an additional 750,000 Units at the IPO price to cover over-allotments. On September 13, 2024, the over-allotment
option was exercised, generating gross proceeds of $7,500,000 and deposited into the Trust Account.

Each unit has an offering price of $10.00 and
consists of one ordinary share (“Public Share”) and one right (“Public Right”) to receive one-tenth (1/10) of
an ordinary share upon the consummation of the initial business combination.

Meanwhile, the Company incurred offering costs
of approximately $1,845,513, consisting of $862,500 and $522,019 of underwriting commissions which were paid in cash and representative
shares (57,500 ordinary shares) at the closing date of the IPO, respectively and $460,994 of other offering costs.

Meanwhile, pursuant the underwriting agreement,
1.0% of the gross proceeds of the IPO, or $575,000, will be paid in cash, and 28,750 representative shares will be issued, both of which
as the deferred underwriting commission at the consummation of a Business Combination.

All of the 5,750,000 public shares sold as part
of the Public Units in the IPO contain a redemption feature which allows for the redemption of such public shares if there is a shareholder