Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 237

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 237
---
 information and factors to be favorable to, and in support of, its determinations and recommendations. This explanation of reasons for the FGMC board of directors’ approval of the Business Combination, and all other information presented in this section, is forward-looking in nature and therefore subject to a number of risks and uncertainties and should be read in light of the factors discussed under the sections entitled “ Cautionary Statement Regarding Forward-Looking Statements” and “ Risk Factors.” For information regarding the BOXABL board of directors’ reasons for the Business Combination, see “ BOXABL Stockholder Proposal No. 1: The BOXABL Business Combination Proposal-The BOXABL Board of Directors’ Reasons for the Business Combination.” Satisfaction of 80.0% Test The FGMC Charter requires that FGMC’s business combination must be with one or more operating businesses or assets with a fair market value equal to at least 80.0% of the net assets held in the Trust Account (excluding the amount of any deferred underwriting fees). As of August 4, 2025, the date of the execution of the Merger Agreement, the balance of the Trust Account was approximately $81.3 million and 80.0% thereof represents approximately $65.04 million. FGMC’s board of directors has determined that the Business Combination meets the 80.0% test. Certain Unaudited Prospective Financial Information FGMC and BOXABL do not, as a matter of course, publicly disclose forecasts or internal projections as to their future performance, revenues, earnings, financial condition or other results given, among other reasons, the inherent uncertainty of the underlying assumptions and estimates. However, in connection with FGMC’s evaluation of the Merger Agreement and the transactions contemplated thereby, FGMC management prepared certain non-public unaudited internal financial forecasts with respect to BOXABL, which were provided to the FGMC Board in connection with its evaluation of the Merger (collectively, the “prospective financial information”). The inclusion of this information should not be regarded as an indication that any of FGMC, BOXABL, their respective advisors, or other representatives or any other recipient of this information considered, or now considers, it to be necessarily predictive of actual future performance or events, or that it should be construed as financial guidance, and such summary projections set forth below should not be relied on as such.

112

Although presented with numerical specificity, the prospective financial information reflects numerous estimates and assumptions with respect to, among other things, economic, competitive, regulatory and financial market conditions and