Company: FGMCU
Filing Date: 2025-01-21
Form Type: S-1/A
Source: 0001104659-25-004764
Chunk: 143

Company: FG Merger II Corp.
Filing Date: 2025-01-21
Form: S-1/A
Chunk 143
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000 under an unsecured
promissory note to be used for a portion of the expenses of this offering. The “as adjusted” information gives effect to
the repayment of any loans made under this note out of the proceeds from this offering and the sale of the private placement securities.
As of September 30, 2024, we had borrowed $125,000 under the promissory note. Additionally, our Sponsor has agreed to loan us an
additional $417,000 at the closing of this offering.

(2) Upon the completion of our initial business combination,
we will provide our public stockholders with the opportunity to redeem their public shares for cash at a per share price equal to the
aggregate amount then on deposit in the trust account calculated as of two business days prior to the consummation of our initial business
combination, including interest earned on the funds held in the trust account (which interest shall be net of funds withdrawn for working
capital purposes (not to exceed $1,000,000 annually) and taxes payable), divided by the number of then outstanding public shares.

(3) Actual share amount is prior to any forfeiture of founder
shares and as adjusted amount assumes no exercise of the underwriters’ over-allotment option and forfeiture of an aggregate of
300,000 founder shares.

(4) On August 21, 2024, we issued a dividend of approximately
0.07 founder shares for every issued and outstanding founder share resulting in our initial stockholders holding an aggregate of 2,300,000
founder shares.

<div align='center'>76

MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

Overview

We are a blank check company incorporated on September 20, 2023,
as a Nevada corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more businesses. We have not selected any specific business combination target
and we have not, nor has anyone on our behalf, engaged in any substantive discussions directly or indirectly, with any business combination
target with respect to an initial business combination with us. We may pursue an initial business combination target in any industry
or geographic region. We intend to focus our search for an initial business combination on companies within the financial services industry
in North America. We intend to effectuate our initial business combination using cash from the proceeds of this offering and the private
placement