Here are the 10-Q quarterly reports from FG Merger II Corp. Unit (FGMCU) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow FGMCU and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FGMCU filings page.
FG Merger II Corp. reported net income of $287,762 for the quarter ended March 31, 2026, driven entirely by interest on its IPO trust while it continues to seek a business combination.
Total assets were $83.2M, including $82.9M held in a Nasdaq-qualifying trust supporting 8,000,000 redeemable public shares, and $243,235 of cash outside the trust for working capital. General and administrative expenses were $273,298.
The company is a SPAC focused on financial services targets and has agreed to merge with Boxabl Inc. for stock valued at $3.5B at $10 per share. The parties have twice extended the merger agreement end date, most recently to July 31, 2026, while working through closing conditions.
FG Merger II Corp. (FGMC/U) – Q2-25 10-Q highlights
- Blank-check SPAC completed its $80 MM IPO on 30-Jan-25 and deposited $80.8 MM ($10.10/unit) in a trust account invested in Treasury money-market funds.
- Trust generated $1.40 MM of investment income for the six months ended 30-Jun-25, offsetting $0.21 MM in G&A and $0.29 MM tax, producing net income of $0.90 MM (basic EPS on redeemable shares = $0.207).
- Balance sheet shows $82.3 MM in total assets, of which $81.6 MM is trust cash and $0.52 MM is operating cash; liabilities were minimal at $0.30 MM, mainly current taxes payable.
- 8.0 MM public shares are classified as temporary equity at $81.63 MM redemption value; 2.30 MM founder/placement/other shares are non-redeemable.
- Financing cash flows reflect IPO proceeds ($78.64 MM net), private placements ($2.48 MM units & $0.10 MM warrants) and full repayment of sponsor promissory notes.
- SPAC has 24 months from IPO (until Jan-27) to consummate a business combination; sponsor indemnifies the trust down to $10.10/share and has withdrawn $0.57 MM interest (of $1.20 MM permitted) for working capital.
No target has been announced; operations remain limited to deal sourcing and compliance.