FG Merger II Corp
FG Merger II Corp is a special purpose acquisition company (SPAC) that raises capital through an initial public offering (IPO) to acquire an existing private company, with the goal of taking it public.
Business. FG Merger II Corp (FGMC.O) is an investment holding company listed on the NASDAQ. The firm operates within the Financials sector, specifically classified under Investment Holding Companies. No specific operating segments or headquarters location are provided in the available data.
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- Company
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
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Composite-score breakdown
Synthesis
FG Merger II Corp (FGMC.O) is an investment holding company listed on the NASDAQ. The firm operates within the Financials sector, specifically classified under Investment Holding Companies. No specific operating segments or headquarters location are provided in the available data.
FG Merger II Corp has a highly leveraged capital structure, with a debt-to-equity ratio of 5.94, indicating that the company is financed predominantly through debt. The company's liquidity position is moderate, as reflected by a current ratio of 1.14, suggesting that it has just enough current assets to cover its current liabilities. The price-to-book ratio is extremely high at 5050.03, which is typical for SPACs due to their shell company status and lack of tangible assets.
The company's profitability metrics are not meaningful in the traditional sense, as SPACs typically do not generate operating income before a business combination. However, the operating cash flow is negative at -$1.5 million, which is expected for a SPAC in its pre-merger phase. The company's return on invested capital (ROIC) and other traditional profitability metrics are not available, as the company has not yet completed a business combination.
FG Merger II Corp's revenue is not disclosed in the financial snapshot, as it is a SPAC and has not yet completed a business combination. The company's operations are not segmented by geography or product, as it is a shell company with no active business operations. The company's shares are listed on the stock market, and its market capitalization is approximately $106.25 million.
The company's growth trajectory is contingent on the success of its business combination. The company has not disclosed any specific targets or timelines for a merger, and its future growth is highly speculative. The company's shares are currently trading at $10.32, and its market capitalization is relatively small compared to industry peers.
The company's risk profile is moderate, with a liquidity risk rating of medium and a dilution risk rating of low. The company's key risk flag is that its net cash is negative after subtracting total debt, which could limit its ability to complete a business combination without additional financing. The company has not disclosed any significant dilution risks in the near term, and its shares outstanding have not changed significantly in the recent period.
Recent events related to FG Merger II Corp include the filing of its latest financial statements and the continued search for a business combination target. The company has not disclosed any material developments in its merger process, and its shares remain in the pre-merger phase. The company's management has not provided any guidance on the timing or terms of a potential business combination.
- FG Merger II Corp is a SPAC with a highly leveraged capital structure and a debt-to-equity ratio of 5.94.
- The company's liquidity position is moderate, with a current ratio of 1.14 and a negative operating cash flow of -$1.5 million.
- The company's price-to-book ratio is extremely high at 5050.03, which is typical for SPACs.
- The company's growth trajectory is contingent on the success of its business combination, and its future performance is highly speculative.
- The company's risk profile is moderate, with a liquidity risk rating of medium and a dilution risk rating of low.
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Estimate revisions
consensus EPS · 26-week trendSell-side observations
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ESG
Risk factors
- Net cash is negative after subtracting total debt.
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- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Market Capmarket_price * shares_outstanding_diluted
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Enterprise Valuemarket_cap - net_cash
- Price To Tangible Bookmarket_price / (tangible_book_value / shares_outstanding_diluted)
- FG Merger II Corp Market data — financials · 2026-05-27
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,45 %$7M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
Insider activity
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Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Return on assets (FY 2025-12-31): 1.7%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): 48,837.4%Derived (calculated)
- Debt-to-equity (FY 2025-12-31): 0.50xDerived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): 5,620.2%Derived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 14,998.7%Derived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-12-31): -3,660.8%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 14,899.7%Derived (calculated)
- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): 13.5%Derived (calculated)
- Return on equity (FY 2025-12-31): 366.3%Derived (calculated)
- Current assets (annual): USD 584.45KSEC XBRL filing
- Total liabilities (annual): USD 194.92KSEC XBRL filing
- Shareholders' equity (annual): USD 389.53KSEC XBRL filing
- Net income (annual): USD 1.43MSEC XBRL filing
- Operating income (annual): USD -972.16KSEC XBRL filing
- Total assets (annual): USD 82.72MSEC XBRL filing
- Operating cash flow (annual): USD 1.48MSEC XBRL filing
- Pre-tax income (annual): USD 2.06MSEC XBRL filing
- Total assets (YoY) (2024-12-31 vs 2023-12-31): -1.1%Derived (calculated)
- Total liabilities (YoY) (2024-12-31 vs 2023-12-31): 16.2%Derived (calculated)
- Return on equity (FY 2024-12-31): 982.1%Derived (calculated)
- Return on assets (FY 2024-12-31): -15.3%Derived (calculated)
- Debt-to-equity (FY 2024-12-31): -65.22xDerived (calculated)
- Shareholders' equity (YoY) (2024-12-31 vs 2023-12-31): -111.3%Derived (calculated)
- Current assets (annual): USD 169.03KSEC XBRL filing