Boxabl Inc., a leader in innovative housing solutions, has announced that it is going public through a merger with special purpose acquisition company (SPAC) FG Merger II Corp. The two companies have signed a definitive merger agreement, which will see Boxabl’s products and vision for disrupting the housing construction industry brought to a wider audience.
The merger is expected to be completed by the end of this year, pending regulatory approvals. Under the terms of the deal, existing shareholders of Boxabl will roll over 100% of their equity into the combined company, while FG Merger II Corp. will issue 350 million shares valued at $3.5 billion.
Boxabl’s innovative modular building systems are designed to deliver affordable and high-quality homes quickly and efficiently. The company’s flagship product, the Casita, is a 361 square foot studio unit that can be assembled in under an hour. Boxabl has attracted significant interest from investors and has raised over $230 million from more than 50,000 investors.
The merger with FG Merger II Corp. is seen as a major step forward for Boxabl’s journey towards becoming a publicly listed company. The combined entity will have the resources needed to expand production capabilities, invest in research and development, and meet growing global demand for its products.
Maxim Group LLC is acting as exclusive financial advisor to Boxabl, while Winston & Strawn LLP is serving as legal advisor. Loeb & Loeb LLP is acting as transaction counsel to FG Merger II Corp.
Boxabl’s founders and co-CEOs Galiano Tiramani and Paolo Tiramani will continue to lead the combined company after the merger is completed.
The deal has been met with enthusiasm from investors, who see significant potential in Boxabl’s innovative products and vision. The merger is expected to provide Boxabl with access to greater capital and broaden its platform to deliver affordable, sustainable housing at scale.
FG Merger II Corp. is a publicly traded SPAC that was formed for the purpose of effecting a business combination with one or more businesses. The company has a reputation for being highly reputable in its field and has completed several successful SPAC transactions in the past.
The proposed transaction will be submitted to shareholders of FG Merger II Corp. for their consideration, and additional information about the deal can be found on Boxabl’s website.
Source: https://www.prnewswire.com/news-releases/boxabl-and-fg-merger-ii-corp-sign-merger-agreement-to-pursue-a-boxabl-public-listing-on-nasdaq-302521738.html