Company: FVN
Filing Date: 2025-02-14
Form Type: DRS/A
Source: 0001829126-25-000945
Chunk: 228

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-02-14
Form: DRS/A
Chunk 228
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 Future Vision” and other financial information, and other information relating to Future Vision and VIWO included elsewhere in this proxy statement/prospectus.

The unaudited pro forma combined balance sheet as of September 30, 2024 has been prepared using the following:

The unaudited pro forma combined statement of operations for the year ended September 30, 2024 has been prepared using the following:

Description of the Transactions

On November 28, 2024, Future Vision, Merger Sub and VIWO entered into the Merger Agreement (as amended on December 10, 2024) pursuant to which the Merger Sub will merge with and into VIWO, with VIWO surviving the merger in accordance with the Companies Act (As Revised) of the Cayman Islands. VIWO and its subsidiaries will thereafter be direct or indirect subsidiaries of Future Vision.

As a result, VIWO will be a wholly-owned subsidiary of Future Vision. The former security holders of VIWO will receive Future Vision’s ordinary shares. Upon the closing of the Business Combination, the former shareholders of VIWO will receive 9,950,250 ordinary shares (after rounding adjustment) of Future Vision. Further. We have assumed that under the Merger Agreement is $10.05 per ordinary share of Future Vision at a valuation of VIWO of $100 million.

Accounting for the Transactions

The Business Combination will be accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, Future Vision will be treated as the “acquired” company for financial reporting purposes. This determination was primarily based on VIWO shareholders expecting to have a majority of the voting power of the combined company, VIWO comprising the ongoing operations of the combined entity, VIWO comprising a majority of the governing body of the combined company, and VIWO’s senior management comprising the senior management of the combined company. Accordingly, for accounting purposes, the Business Combination will be treated as the equivalent of VIWO issuing share for the net assets of Future Vision, accompanied by a recapitalization. The net assets of Future Vision will be stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination will be those of VIWO.

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Basis of Pro Forma Presentation

The historical financial information has been adjusted to give pro forma effect to events that are related and/or directly attributable to the Business Combination, are factually supportable and are expected to have a continuing