Company: FVN
Filing Date: 2025-03-10
Form Type: DRS/A
Source: 0001829126-25-001610
Chunk: 187

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-10
Form: DRS/A
Chunk 187
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 from time to time, the “Merger Agreement”), and the transactions contemplated thereby, (collectively referred to as the “Business Combination”). This proposal is referred to as the “Business Combination Proposal” or “Proposal No. 1.”

General Description of the Business Combination

Business Combination with VIWO; Business Combination Consideration

On the closing date of the Business Combination contemplated by the Merger Agreement (the “Closing”), the Merger Sub will merge with and into VIWO and VIWO will survive the merger as the surviving company under Cayman Islands Law. As a result, VIWO will become a wholly-owned subsidiary of Future Vision. Thereafter, Future Vision will make all requisite filings with the Registrar of Companies in the Cayman Islands to change its name to VIWO Inc. pursuant to the Companies Act (As Revised) of the Cayman Islands subject to the passing of the Name Change Proposal.

Upon the Closing, in consideration for all of the outstanding issued share capital of VIWO, the VIWO shareholders VIWO will receive on a pro rata basis Future Vision ordinary shares equal to an aggregate of approximately 54.89% (or 9,950,250 shares of Future Vision Ordinary Share) of the total issued and outstanding shares of Future Vision upon completion of the Business Combination (assuming no redemptions of the IPO related Future Vision ordinary shares and conversion of all public and private rights and issuance of the ordinary shares to pay the deferred underwriting commission). The aggregate number of Future Vision ordinary shares to be issued, shall be determined by the equity valuation of $100 million, and dividing equity valuation by $10.05, which represents the equity valuation of one Future Vision ordinary share.

Prior to the effective time of the Business Combination, all outstanding convertible securities of VIWO, if any, shall be exercised or cancelled by the holders thereof, and the VIWO ordinary share then issued and outstanding shall be exchanged for Future Vision ordinary shares at the closing of the Business Combination.

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Potential Dilution to Non-Redeeming Future Vision Public Shareholders

The unadjusted net tangible book value of Future Vision as of its most recent balance sheet date, September 30, 2024, is $59,328,684, equating to Future Vision’s total assets of $59,409,351 minus its total liabilities of $80,667. As of such date, Future Vision had a total of 7,544,000 shares issued and outstanding, consisting of 1,736,