Company: FVN
Filing Date: 2025-03-10
Form Type: DRS/A
Source: 0001829126-25-001610
Chunk: 189

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-10
Form: DRS/A
Chunk 189
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 more target businesses that together have an aggregate fair market value of at least 80% of the assets held in the trust account (excluding taxes payable on the interest earned on the trust account) at the time of our signing a definitive agreement in connection with our business combination. The fair market value of the target or targets will be determined by our board of directors based upon one or more standards generally accepted by the financial community (such as actual and potential sales, earnings, cash flow and/or book value). Although our board of directors will rely on generally accepted standards, our board of directors will have discretion to select the standards employed. In addition, the application of the standards generally involves a substantial degree of judgment. Accordingly, investors will be relying on the business judgment of the board of directors in evaluating the fair market value of the target or targets.

In connection with Future Vision’s formation, in February, 2024, the Sponsor purchased 1,437,500 Ordinary Share to for an aggregate purchase price of $25,000.

Pursuant to Future Vision’s IPO, which is completed on September 13, 2024, Future Vision sold 5,750,000 public units. Each unit consisted of (i) one ordinary share, and (ii) one right to receive one-tenth of one ordinary share.

Simultaneously with the closing of Future Vision’s IPO, the Sponsor purchased 299,000 Private Units at a price of $10.00 per private unit. The private units are identical to the Future Vision public units sold in the Initial Public Offering, except that the private units, so long as they are held by our Sponsor (and/or its designees), (i) will not be redeemable by us, (ii) may not subject to certain limited exceptions, be transferred, assigned or sold by the holders until the completion of our initial business combination, (iii) may be exercised by the holders on a cashless basis and (iv) will be entitled to registration rights.

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In accordance with Future Vision’s Amended and Restated Memorandum and Articles of Association, the amounts held in the trust account may only be used by Future Vision upon the consummation of a business combination, except that there can be released to Future Vision, from time to time, any interest earned on the funds in the trust account that it may need to pay its tax obligations. The remaining interest earned on the funds in the trust account will not be released until the earlier of the completion of