Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 224

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 224
---
 phone. FGMC presented an NDA to Target 2 on May 16, 2025, which was executed that day. Also on that day, FGMC was granted access to a data room and began initial due diligence on Target 2. During its initial due diligence, FGMC had questions regarding Target 2’s proposed valuation that were not answered to its satisfaction. Accordingly, conversations were terminated in May 2025.

Target 3: a digital pharma platform that uses an AI-powered drug assets management system. Target 3 was introduced to Larry Swets by CTM. Mr. Swets first reached out to Target 3 on March 9, 2025 and an in-person meeting was held between Mr. Swets and the CEO Target 3. FGMC presented an NDA to Target 3 which was executed on March 11, 2025. During initial discussions, FGMC and Target 3 disagreed on a valuation for Target 3. Accordingly, conversations were terminated in March, 2025.

Discussions with BOXABL

On April 10, 2025, Maxim Group (“Maxim”) introduced Larry Swets and Kyle Cerminara of FGMC to Galiano Tiramani and Alexis Bulloch of BOXABL. On April 11, 2025, FGMC’s management team and Galiano Tiramani, Martin Costas and Alexis Bulloch participated in an initial conference call. At that call, a potential business combination between the two companies was discussed, along with BOXABL’s business plan, investor base and market challenges. On April 11, 2025, FGMC sent an NDA to

<div align='center'>104</div>

BOXABL which was executed on April 14, 2025. On April 19, 2025, Larry Swets sent a draft letter of intent to Maxim, who then presented it to the BOXABL team. Key provisions in the letter of intent included:

| ● | $3.5B BOXABL valuation |

| ● | 90-day exclusivity (for BOXABL only) |

| ● | No-minimum cash at closing |

| ● | Each party responsible for their own expenses |

| ● | Prohibition of issuance/transfer of securities during exclusivity period |

| ● | Prohibition of new debt issuances during exclusivity period |

| ● | $1M breakup fee if (a) BOXABL fails to comply with any terms in the letter, (b) BOX