Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 525

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 525
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 the right to unilaterally terminate the agreement upon thirty days’ written notice. Supercar System is controlled by the Company’s CEO, Paolo Tiramani. The Company recognizes lease expense for its operating leases on a straight-line basis over the lease term. Most leases include one or more options to renew, with renewal terms that can extend the lease term. The Company has determined that it was reasonably certain that the renewal options would be exercised based on previous history and knowledge, current understanding of future business needs and the level of investment in leasehold improvements, among other considerations. The incremental borrowing rate used in the calculation of the lease liability is based on the rate available to the Company. The depreciable life of assets and leasehold improvements are limited by the expected lease term. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Certain subsidiaries of the Company rent or sublease certain office space to/from other subsidiaries of the Company. Maturities of lease liabilities for operating leases as of December 31, 2024, were as follows:

| ​                                       
 Remaining lease payments (In Thousands) | ​ | ​           
 Fiscal year |      ​ |
|:----------------------------------------|:--|:------------|-------:|
| 2025                                    | ​ | $           |  3,997 |
| 2026                                    | ​ |             |  3,839 |
| 2027                                    | ​ |             |  2,102 |
| 2028                                    | ​ |             |  1,509 |
| Thereafter                              | ​ |             |    258 |
| Total lease payments                    | ​ | $           | 11,705 |
| Less: Imputed interest                  | ​ |             | -1,044 |
| Total lease liability                   | ​ | $           | 10,661 |

As of December 31, 2024 and December 31, 2023, the weighted average remaining lease term was 3.1 years and 3.8 years, respectively. As of December 31, 2024 and 2023, the weighted average incremental borrowing rate was 5.5% and 4%, respectively. No ROU asset is recorded for leases with a lease term, including any reasonably assured renewal terms, of 12 months or less. Upon adoption of ASC 842, the Company also recorded lease liabilities computed as the present value of future minimum lease payments, including reductions from any landlord incentives, plus