Company: FGMCU
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001104659-25-004764
Chunk: 168

Company: FG Merger II Corp.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 168
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%, of FGAC were redeemed in connection with the extensions. 
 Approximately 21.38% of the shares held by public stockholders were redeemed in connection with the business combination.                 |

| · | FG New America Acquisition Corp. (“FGNA”) consummated                                                                                      
 a business combination with Opportunity Financial, LLC (“Oppfi”) on July 20, 2016, fifteen months following the closing                    
 the FGNA initial public offering on October 2, 2020. The aggregate value of the consideration paid to the members of Oppfi in the          
 business combination was approximately $806,517,000, after giving effect to the estimated purchase price adjustments as set forth          
 in the business combination agreement, consisting of: (i) cash consideration in the amount of $91,646,050, equal to the cash remaining     
 in FGNA’s trust account as of immediately prior to the closing and (i) 96,987,093 in shares of FGNA. There was no extension                
 of the time period for which FGNA had to complete its business combination. Approximately 62.34% of the shares held by public stockholders 
 were redeemed in connection with the business combination.                                                                                 |

| · | FG Merger Corp. (“FGMC”) consummated a business combination                                                                            
 with iCoreConnect Inc. on August 25, 2023, seventeen months following the closing the FGMC initial public offering on March 1, 2022.   
 The aggregate consideration received by the iCoreConnect Inc. stockholders was based on a pre-transaction equity value of $98,000,000, 
 which was paid in shares of FGMC common stock. On August 14, 2023, FGMC entered into Prepaid Forward Purchase Agreement (the “FPA”)    
 by and among FGMC, Old iCore and RiverNorth SPAC Arbitrage Fund, L.P., a Delaware limited partnership (the “Purchaser”).               
 In accordance with the FPA and subject to the terms and conditions set forth therein, the Purchaser purchased the lesser of (a) 1.5    
 million shares of FGMC common stock and (b) such number of shares of FGMC common stock as not to exceed 9.9% of the total number       
 of shares of FGMC common stock to be outstanding from public shareholders for a price no greater than the redemption price per share   
 as is indicated in FGMC’s most recently filed periodic report. FGMC extended the time period for which