Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 343

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 343
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 98.52 | % |
| Total                                             | ​     | 258,456,441 | ​     |     100 | %     |  254,456,441 | ​     |     100 | %     |  250,456,441 | ​     |     100 | % |

*Less than 1%

| (1) | Represents FGMC Public Shares including the public rights converted into common shares. |

| (2) | Represents Founder Shares held by Sponsor, Ramnarain Joseph Jaigobind and directors and officers pre-merger of FGMC. It also includes common stock underlying Private Units and the rights underlying the Private Units being converted into common stock. |

| (3) | Represent the common stock underlying the Underwriters and Advisors Unit including the right being converted into common shares underlying the Underwriter and Advisor Units. |

| (4) | Represent the exchange of BOXABL common shares into shares of FGMC upon closing of Business Combination. The amount includes the Convertible Securities of BOXABL being exchanged for common shares of Combined Company. |

178

Note 3 — Accounting for the Business Combination The Business Combination will be accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, FGMC, who is the legal acquirer, will be treated as the “acquired” company for accounting purposes and BOXABL will be treated as the accounting acquirer. Accordingly, the Business Combination will be treated as the equivalent of BOXABL issuing shares at the closing of the Business Combination for the net assets of FGMC as of the closing date, accompanied by a recapitalization. The net assets of FGMC will be stated at historical cost, with no goodwill or other intangible assets recorded. BOXABL has been determined to be the accounting acquirer based on evaluation of the following facts and circumstances:

| ● | BOXABL stockholders will have the majority voting interest in BOXABL under both the no redemption and maximum redemption scenarios; |

| ● | The BOXABL board will be composed as follows: BOXABL will have the right to designate four (4) directors and FGMC will have the right to designate one (1) director (a majority of the board who will qualify as independent directors under the Securities Act and the Nasdaq rules); |

| ● | BOXABL senior management will be the senior management of BOXABL post-merger; |

| ● | The business of BOXABL will comprise the ongoing operations of BOXABL; and |

|