BOXABL and FG Merger II Corp. stockholders approve business combination
BOXABL Inc. and FG Merger II Corp. stockholders approved their business combination at special meetings held on June 9, 2026. The transaction is expected to close shortly, with the combined company set to trade on Nasdaq under the ticker symbol BXBL. Following the redemption of approximately 6.6 million shares, BOXABL retains about $14 million in cash from the trust account.
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BOXABL Inc. and FG Merger II Corp. announced that stockholders of both companies voted to approve their previously announced business combination at special meetings held on June 9, 2026. Following the approval, the transaction is expected to close shortly, after which FG Merger II Corp. will be renamed "BOXABL Inc." and the combined company's common stock will commence trading on the Nasdaq Stock Market under the ticker symbol BXBL. The approval secures the future of the modular housing company, which retains approximately $14 million in cash from the trust account to support operations.
Merger Details and Financial Impact
Prior to the vote, FG Merger II Corp. finalized a redemption process for stockholders who elected to exit. The redemption window closed on June 5, 2026, at 5:00 p.m. ET, with approximately 6,615,950 shares tendered at a price of $10.40 per share. This resulted in a payout of approximately $68.8 million. Following these transactions, FG Merger II Corp. will have 1,384,050 public shares of common stock outstanding.
Key Financial Metrics
The following table outlines the financial impact of the redemption process on the trust account:
| Metric | Value |
|---|---|
| Shares tendered for redemption | 6,615,950 |
| Redemption price per share | $10.40 |
| Total amount removed from trust | $68.8 million |
| Remaining public shares outstanding | 1,384,050 |
| Remaining trust account balance | $14 million |
Company Overview
BOXABL specializes in modular building systems and innovative housing solutions. Its flagship product, the Casita, is a 361 square foot studio unit designed for rapid deployment, and the company is developing stackable and connectable models to form larger housing structures. FG Merger II Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, or other similar business combination.
How will BOXABL utilize the remaining $14 million in trust funds to scale production of the Casita unit?
What is the company's strategy for securing additional capital given the significant outflow from redemptions?
How will the low public float of approximately 1.38 million shares impact liquidity and stock volatility post-listing?
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