#United States #Las Vegas #Modular Homes #BOXABL #FG Merger II

BOXABL and FG Merger II Corp. Join Forces to Transform Housing Accessibility

In a significant move for the modular housing market, Boxabl Inc. has announced a definitive merger agreement with FG Merger II Corp., a public special purpose acquisition company (SPAC). The merger aims to enable Boxabl to list its shares on the NASDAQ stock exchange under the ticker symbol BXBL. This partnership marks an essential milestone in Boxabl's strategy to leverage capital for expansion and to enhance its innovative housing solutions.

The Merger Highlights

The merger agreement promises to bring together FGMC's financial expertise and Boxabl's revolutionary housing systems. The projected closing of the merger is set to pave the way for Boxabl to tap into greater financial resources. To date, the company has attracted over $230 million from more than 50,000 investors, demonstrating significant public interest and confidence in its mission to disrupt the traditional housing construction industry.

Galiano Tiramani, CEO of Boxabl stated, "We're excited to partner with FGMC, a reputable SPAC management team with an impressive track record of successful transactions. This potential public listing could provide greater capital access and broaden our platform to deliver affordable housing at scale."

Expected Benefits of the Merger

Both companies believe that this merger will create substantial value. FGMC's strong position in the financial services landscape can provide Boxabl with the necessary resources to increase its production capabilities and accelerate research and development initiatives. The merger is expected to facilitate:

• - An increase in production capacity to meet rising demands.
• - The introduction of innovative building solutions to enhance urban living.
• - Expansion into new markets, addressing the ongoing housing crisis effectively.

Larry G. Swets Jr., CEO of FGMC, expressed optimism about the merger, highlighting the impressive nature of Boxabl's innovative product offerings and the potential impact they can have on the housing market: "The FG Merger team is thrilled to collaborate with Boxabl, as we see immense potential in their disruptive technology that meets essential housing needs."

Transaction Overview

As part of the merger terms, existing shareholders of Boxabl will roll 100% of their equity into the combined entity. FGMC will issue 350 million shares to Boxabl, valuing the company at approximately $3.5 billion. There are no minimum cash conditions, allowing the merger to progress smoothly. Galiano Tiramani and his team will continue to steer the company post-merger, ensuring continuity in leadership.

This merger encapsulates Boxabl’s commitment to addressing housing shortages through its modular building solutions. Their flagship product, The Casita, is a 361 square foot studio unit that unfolds on-site in under an hour. This product is already gaining traction, thanks to its efficiency and affordability.

Furthermore, Boxabl is developing additional models such as the Baby Box, a 120 square foot unit designed to meet RV code, highlighting the company’s versatility in responding to various housing needs.

Future Outlook

With the merger solidifying its position, Boxabl is well-positioned to make substantial impacts in the housing industry. The strategic partnership with FGMC not only enhances its operational capabilities but also broadens its capacity to address global housing challenges. As more consumers and investors take notice of the housing crisis, Boxabl’s mission appears more vital than ever.

In conclusion, the proposed merger between Boxabl and FG Merger II Corp. represents an ambitious step towards achieving a public listing, expanded production capabilities, and ultimately, addressing the pressing housing needs of communities across the globe. Both companies are set to redefine the parameters of affordable and sustainable living, making this a story to follow closely as it unfolds.