Company: FVN
Filing Date: 2025-03-10
Form Type: DRS/A
Source: 0001829126-25-001610
Chunk: 195

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-10
Form: DRS/A
Chunk 195
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 Vision’s CFO, attended the meeting. Fidel Yang, VIWO’s CEO, engaged in all substantive negotiations on behalf of VIWO which included presenting the business plan to Future Vision and e make negotiations with regards to valuation, and discussing VIWO’s presentation.

Danhua Xu reported the above meeting and conference call to Future Vision’s Board of Directors. Future Vision believed the management team of VIWO was sophisticated with many years’ experiences in the Intelligent digital technology industry.

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Between November 2, 2024 and November 12, 2024, a series of conference calls and meetings took place between Future Vision and VIWO management. Future Vision also had a number of internal calls among its management and board members to discuss the proposed transaction with VIWO.

On November 13, 2024,
Future Vision proposed a letter of intent (“LOI”) to VIWO. The initial terms of the LOI include, among others, a preliminary
valuation between $80 million to $120 million for VIWO, subject to further due diligence, including engaging a financial valuation firm
to provide a valuation analysis to validate the preliminary valuation range as determined by the Future Vision board.

In the next few days, Future Vision and VIWO had several discussions regarding the terms of the LOI, including (i) the proposed valuation for VIWO, (ii) the amount of funds remaining at Future Vision at the closing of the Business Combination, and (iii) the exclusivity period of the LOI. VIWO shareholders noted that they are generally agreeable to the preliminary valuation range proposed by the Future Vision board. VIWO shareholders believed that the valuation range gave due consideration to various factors, including VIWO’s financial position, future growth potential, and industry comparisons and fairly reflected VIWO’s current position and future prospects.

On November 18, 2024, Future Vision provided the business and legal due diligence request lists to VIWO. VIWO started to set up a data room for the due diligence by Future Vision.

On November 18,
2024, Future Vision’s legal counsel team started the legal due diligence on VIWO and its business operations. Future
Vision’s board of directors also engaged King Kee Appraisal and Advisory Limited (“KKG”) to investigate VIWO and
provide an independent analysis on the fair value of 100% equity interest of VIWO as at September 30, 2024. The Future Vision board
expressed concern regarding the 2024 decline in VIWO’s