BOXABL files SEC registration for $3.5 billion SPAC merger

BOXABL Inc. and FG Merger II Corp. (NASDAQ: FGMC) filed a registration statement on Form S-4 with the Securities and Exchange Commission in connection with their previously announced merger.

The transaction values BOXABL at approximately $3.5 billion. Under the merger terms, FGMC will issue 350 million shares to BOXABL stockholders, while existing BOXABL stockholders will roll 100% of their equity into the combined company.

The combined company is expected to trade on NASDAQ under the ticker "BXBL" upon completion of the merger. FGMC will change its name to BOXABL following a successful closing.

BOXABL manufactures modular housing systems, including its flagship Casita product, a 361 square foot studio unit that unfolds on-site in less than an hour. The company also announced the Baby Box, a 120 square foot unit built to RV code.

The merger requires several approvals, including SEC effectiveness of the registration statement and stockholder approval from both companies. The transaction includes no minimum cash condition.

Paolo Tiramani, BOXABL co-CEO, stated that becoming publicly traded "will help us create value for our customers and for our investors through market growth and help accelerate our mission of delivering affordable, innovative housing solutions at scale."

FG Merger II Corp. is a special purpose acquisition company formed to effect business combinations. Non-redeeming FGMC stockholders will own shares in the combined company following the merger completion.

The information is based on the companies' press release statement.

You May Also Be Interested In

• Auddia receives SEC comments on merger filing, expects July closing
• Victoria's Secret shareholders re-elect all nine board directors
• ZincFive to go public via $752 million SPAC deal with Spark I