FG Merger II Corp.

FG Merger II Corp. is a Nevada-incorporated blank check company formed to complete a merger, share exchange, asset acquisition, stock purchase, recapitalization, or similar business combination. It has no operating business of its own and is currently focused on finding and closing a transaction, with stated interest in the financial services industry.

3.00

2.50

— FG Merger II Corp.
%
SPAC formation and capital raising100% The company raised IPO proceeds through the sale of units consisting of common stock and rights.
Business combination execution0% The company exists to identify, negotiate, and close a merger or similar transaction with a target business.
Trust account interest income0% Until a transaction closes, the company earns non-operating income from funds held in trust.

FG Merger II Corp. does not sell products or services to end customers in the normal operating sense...

  • Public IPO investorsprimary

    Bought units in the IPO and hold common shares plus rights while the company searches for a deal.

  • Sponsor / founder groupprimary

    Provides support, governance backing, and administrative services during the search and closing process.

  • Target company stockholdersprimary

    Would receive merger consideration in the form of FGMC preferred and common shares if the Boxabl transaction closes.

  • Future combined-company investorssecondary

    Will own the public company after the merger and are the ultimate audience for the transaction structure.

The company is incorporated in Nevada and operates from the United States, with no disclosed operating footprint beyond...

  • •Incorporated in Nevada, United States
  • •U.S.-based SPAC with no operating revenue yet
  • •Transaction governed by U.S. securities and listing rules
  • •Target company and merger process are the main geographic exposure

The core strategy is to complete a business combination before the deadline and transition from a blank check vehicle...

01
Complete the Boxabl mergershort-term

The company has no operating business until a transaction closes, so deal completion is existential.

02
Obtain required approvals and regulatory clearancesshort-term

Stockholder votes, HSR waiting periods, and listing approval are closing conditions.

03
Preserve sponsor and target alignmentshort-term

Support agreements and lock-ups reduce execution risk and help stabilize the post-close capital structure.

The company’s main risk is that the proposed merger may not close, which would leave it without an operating business...

critical

Merger termination or failure to close

The company has no operating business, so a failed transaction would leave it without a path to revenue.

Scope
Boxabl merger
Materiality
high
high

Deadline and closing-condition risk

The agreement can terminate if closing does not occur by the end date or if conditions are not satisfied.

Scope
March 31, 2026 agreement end date
Materiality
high
high

Regulatory and stockholder approval risk

The transaction requires stockholder votes, HSR clearance, and exchange listing approval.

Scope
Form S-4, HSR, Nasdaq/NYSE approval
Materiality
high
high

SPAC redemption and trust account risk

Redemptions or trust account constraints can affect the economics and feasibility of the deal.

Scope
Public shareholders and trust proceeds
Materiality
medium
medium

Related-party and sponsor dependence

The sponsor provides support and administrative services, increasing dependence on insiders.

Scope
Sponsor support agreement and monthly admin fee
Materiality
medium
Trust account interest income
Can materially swing quarterly net income despite no operations
Income taxes on trust earnings
Affects net income and comparability across periods
Pre-combination expense classification
Drives reported losses or offsets trust income
Related-party administrative services
Affects general and administrative expense and related-party disclosure

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: 28.4.2026