Company: FVN
Filing Date: 2025-04-14
Form Type: DRS/A
Source: 0001829126-25-002616
Chunk: 172

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-04-14
Form: DRS/A
Chunk 172
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 of independent directors; (ii) its board of directors have a compensation committee that is composed entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities and (iii) its board of directors have a nominating and corporate governance committee that is composed entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities.

As a result, the investors may not have the same protection afforded to shareholders of companies that are subject to these corporate governance requirements. New VIWO’s status as a controlled company could cause its securities to look less attractive to certain investors or otherwise harm the trading price.

Because New VIWO may be a “controlled company” following the Business Combination under The Nasdaq Stock Market listing standards, our Shareholders may not have certain corporate governance protections that are available to Shareholders of companies that are not controlled companies.

So long as more than 50% of the voting power for the election of directors is held by an individual, a group or another company, New VIWO on a post-Business Combination basis, will qualify as a “controlled company” under The Nasdaq Stock Market listing requirements. Following the completion of the Business Combination, VIWO shareholders, if treated as a group, through holdings of the ordinary share will control a majority of the voting power of our outstanding share capital. As a result, New VIWO will be a “controlled company” under The Nasdaq Stock Market listing standards and will not be subject to the requirements that would otherwise require us to have: (i) a majority of independent directors; (ii) a nominating committee comprised solely of independent directors; (iii) compensation of our executive officers determined by a majority of the independent directors or a compensation committee comprised solely of independent directors; and (iv) director nominees selected, or recommended for the Board’s selection, either by a majority of the independent directors or a nominating committee comprised solely of independent directors. Although New VIWO has indicated that it does intend for the combined company to rely on the exemptions for controlled companies, it may eventually rely upon the controlled company exemption.

VIWO shareholders, or the majority shareholder of VIWO, CDDI may have their interest in New VIWO diluted due to future equity issuances or his own actions in selling ordinary share, in each case, which could result in a loss of the “controlled company” exemption under The Nasdaq Stock Market listing rules. If any of those foregoing events transpire, New VIWO would then be required to comply with those provisions of The Nasdaq Stock Market listing requirements