Company: FGMCU
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001104659-25-004764
Chunk: 169

Company: FG Merger II Corp.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 169
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 FGMC had to complete            
 its business combination from June 1, 2023 to September 1, 2023 by, in accordance with the built-in extension terms of FGMC’s          
 charter, depositing an aggregate extension payment of $805,000 into FGMC’s trust account. Approximately 78.16% of the shares           
 held by public stockholders were redeemed in connection with the business combination.                                                 |

| · | 1347 Capital Corp. (“1347 Capital”) consummated a                                                                                           
 business combination with Limbach Holdings LLC (“Limbach Holdings”) on July 20, 2016, twenty four months following the                      
 closing the 1347 Capital initial public offering on July 21, 2014. In connection with the closing, 1347 Capital paid to the holders         
 of membership interests and options to acquire membership interests of Limbach Holdings consideration comprised of (a) $33 million          
 in cash, (b) 2,200,005 shares of 1347 Capital common stock, (c) 1,000,006 warrants, each exercisable for one share of 1347 Capital          
 common stock at an exercise price of $11.50 per share, and (d) 666,670 warrants, each exercisable for one share of 1347 Capital common      
 stock at an exercise price of $12.50 per share. In addition, pursuant to the terms of the merger agreement, 1347 Capital issued and         
 sold to 1347 Investors LLC 400,000 newly issued shares of Class A preferred stock for $10,000,000. There was no extension of the            
 time period for which 1347 Capital had to complete its business combination. Approximately 60.87% of the shares held by public stockholders 
 were redeemed in connection with the business combination.                                                                                  |

In recent years, the number of special purpose acquisition companies that have been formed has increased substantially. Many potential targets for special purpose acquisition companies have already entered into an initial business combination, and there are still many companies preparing for an initial public offering. As a result, at times, fewer attractive targets may be available to consummate an initial business combination. In addition, because there are more special purpose acquisition companies seeking to enter into an initial business combination with available targets, the competition for available targets with attractive fundamentals or business models may increase, which could cause targets companies to demand improved financial terms. See “Risk Factors — As the number of special purpose acquisition companies evaluating targets increases