BOXABL has completed its business combination with FG Merger II Corp., taking the factory-built housing company public at a valuation of approximately $3.5 billion. The transaction was approved by FG Merger II stockholders during a special meeting held on June 9, 2026.
Following the closing, FG Merger II was renamed BOXABL Inc. The combined company’s common stock is expected to begin trading on the Nasdaq Stock Market under the ticker symbol “BXBL” on July 20, 2026.
Under the terms of the merger, FG Merger II issued 350 million shares to existing BOXABL stockholders.
The valuation was calculated using a deemed price of $10 per share.
All existing BOXABL shareholders are rolling 100% of their equity into the publicly traded company.
BOXABL also issued an aggregate of 800,000 common shares to holders of FG Merger II’s outstanding rights. Those rights are no longer outstanding or trading on Nasdaq.
The transaction gives BOXABL access to the public capital markets as the company works to expand production, invest in research and development and address demand for factory-built housing systems.
BOXABL develops modular structures designed to reduce the time and complexity involved in conventional home construction.
Its flagship product is the Casita, a 361-square-foot studio unit equipped with a kitchen, bathroom and utilities.
The Casita is manufactured inside BOXABL’s facilities and designed to unfold at its destination in less than one hour.
The company also offers the Baby Box, a smaller 120-square-foot unit constructed to recreational vehicle standards and intended for installations that do not require a traditional foundation.
BOXABL is developing additional stackable and connectable models that could be combined to form townhomes, multifamily buildings and larger single-family residences.
The company’s manufacturing model is intended to shift more construction activity from outdoor job sites into controlled factory environments.
Factory production can provide greater consistency in the construction process while reducing exposure to weather delays and other site-specific disruptions.
Completed units can then be transported to their destination and installed more quickly than many traditionally constructed buildings.
BOXABL has raised more than $230 million from over 50,000 investors to date.
The company believes the merger and Nasdaq listing will provide additional opportunities to attract capital and increase its visibility among customers, investors and strategic partners.
BOXABL’s founders and co-CEOs, Paolo Tiramani and Galiano Tiramani, will continue leading the company following the transaction.
The company was founded in 2017 and has attracted attention for its effort to apply scalable manufacturing methods to residential construction.
BOXABL’s growth plans include increasing production capacity and developing a broader range of building configurations.
The company could use its connectable units to serve applications extending beyond compact individual residences, including larger housing developments and multifamily projects.
Becoming publicly traded will also require BOXABL to maintain financial reporting, governance and internal control systems that meet public company requirements.
The merger was structured as a two-step transaction.
FG Merger Sub II first merged with and into BOXABL. BOXABL then merged with and into FG Merger II, which continued as the surviving publicly traded entity and was renamed BOXABL Inc.
The registration statement related to the transaction was declared effective by the U.S. Securities and Exchange Commission before the stockholder vote.
ThinkEquity served as an adviser to FG Merger II, while Loeb & Loeb acted as its legal adviser.
Maxim Group served as the exclusive financial adviser to BOXABL, and Winston Taylor provided legal counsel to the company.
The completion of the transaction gives BOXABL a public listing as it seeks to scale its modular housing technology and expand the commercial availability of its products.
KEY QUOTE:
“The housing market is broken, and nobody was going to fix it. So, we built the factory, engineered the product, and now will have access to the public markets. We are excited to continue working in our mission to solve the housing crisis.”
Paolo Tiramani, Co-Founder and Co-CEO of BOXABL
