Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 557

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 557
---
 Regulation A Offering”). Assuming the Regulation A Offering is fully subscribed at the level where the maximum number of Bonus Shares are issued, the Company would sell a total of 92.5 million shares of Non-Voting Series A-3 Preferred Stock for gross proceeds of $74 million consisting of $70,476 thousand in cash proceeds and $3,523 thousand in Bonus Share value for which no cash proceeds would be received by the Company. During the years ended December 31, 2024 and 2023, the Company issued 20,672,939 and 8,343,400 shares of Series A-3 Preferred Stock for gross proceeds of $14.9 million and $4.2 million, respectively. During the years ended December 31, 2024 and 2023, the Company issued 207,053, and 15,587,326 shares of Series A-2 preferred stock for gross proceeds of $166 thousand and $12.0 million, respectively. Warrants In connection with the issuance of certain A-3 shares, as of December 31, 2024 and December 31, 2023, respectively, the Company has issued 18,573 thousand and 10,460 thousand warrants that are exercisable at a price of $0.80 per share. Warrants are exercisable for three years from the date of purchase (the “ Exercise Period”); provided, however, that the Company may call the warrants, in its sole discretion, at any time upon 30 days written notice to the Shareholders. If redeemed, each warrant shall be redeemed for one share of A-3 Preferred Stock. All unexercised warrants will expire and are subject to certain transfer restrictions.

F- 48

#### Escrow Receivable
As of December 31, 2024 and December 31, 2023, the Company recorded $365 thousand and $232 thousand, respectively, of investment holdbacks in escrow receivable on its consolidated balance sheets. These amounts represent cash balances held by a third party, for the benefit of BOXABL.

#### Offering Costs and Deferred Offering Costs
For the years ended December 31, 2024 and 2023, the Company incurred offering costs of $769 thousand and $1,159 thousand, respectively. These costs include legal fees, commissions, targeted marketing and other deferred costs related directly to the open offerings.

#### Subscription Liability
As of December 31, 2024 and December 31, 2023, the Company