Company: FVN
Filing Date: 2025-04-14
Form Type: DRS/A
Source: 0001829126-25-002616
Chunk: 231

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-04-14
Form: DRS/A
Chunk 231
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4) 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 impact on the results of New VIWO. The adjustments presented on the unaudited pro forma combined financial statements have been identified and presented to provide relevant information necessary for an accurate understanding of New VIWO.

The unaudited pro forma condensed combined information contained herein assumes that Future Vision’s shareholders approve the Business Combination proposal and other proposals. Future Vision’s public shareholders may elect to redeem their public shares for cash even if they vote against the Business Combination. Future Vision cannot predict how many of its public shareholders will exercise their right to have their shares redeemed for cash; however, we are assuming maximum redemption of