Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 530

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 530
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 million and $4.2 million, respectively. During the years ended December 31, 2024 and 2023, the Company issued 207,053, and 15,587,326 shares of Series A-2 preferred stock for gross proceeds of $166 thousand and $12.0 million, respectively. Warrants In connection with the issuance of certain A-3 shares, as of December 31, 2024 and December 31, 2023, respectively, the Company has issued 18,573 thousand and 10,460 thousand warrants that are exercisable at a price of $0.80 per share. Warrants are exercisable for three years from the date of purchase (the “Exercise Period”); provided, however, that the Company may call the warrants, in its sole discretion, at any time upon 30 days written notice to the Shareholders. If redeemed, each warrant shall be redeemed for one share of A-3 Preferred Stock. All unexercised warrants will expire and are subject to certain transfer restrictions.

F- 47

#### Escrow Receivable
As of December 31, 2024 and December 31, 2023, the Company recorded $365 thousand and $232 thousand, respectively, of investment holdbacks in escrow receivable on its consolidated balance sheets. These amounts represent cash balances held by a third party, for the benefit of BOXABL.

#### Offering Costs and Deferred Offering Costs
For the years ended December 31, 2024 and 2023, the Company incurred offering costs of $769 thousand and $1,159 thousand, respectively. These costs include legal fees, commissions, targeted marketing and other deferred costs related directly to the open offerings.

#### Subscription Liability
As of December 31, 2024 and December 31, 2023, the Company had $651 thousand and $451 thousand, respectively, in a subscription liability pertaining to proceeds received, but the Preferred shares were not yet issued by the Company. These amounts represent funds from equity offerings paid to the Company prior to the issuance of shares. The Company has an obligation to issue the corresponding shares related to these proceeds. In relation to the Regulation A, Preferred A Stock Offering, DealMaker had remitted shareholder funds to the Company, which had not been paid to the selling shareholders until January 2025. These amounts were included within the subscription liability as of December 31, 2024.

#### Stock-based Compensation
On August 12, 2024,