BOXABL
Bringing mass production
to housing. Going public
with FGMC.
BOXABL's mission is to solve the housing crisis with factory-built, foldable homes that ship anywhere. We've announced a definitive merger agreement with FG Merger II Corp. FGMC. Upon completion of the merger, BOXABL will trade on NASDAQ under the symbol BXBL. Investors who buy FGMC today will automatically become BXBL shareholders upon closing.
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Merger AgreementSigned
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SEC & Shareholder ReviewIn progress
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NASDAQ ListingAs BXBL, upon closing
Built on Real Traction
Housing Hell
75% of U.S. households cannot afford a median-priced new home.
Unaffordable
Home shortfall continues to grow, pricing out the vast majority of Americans from homeownership.
Overregulated
Bureaucratic red tape delays traditional construction projects by months and adds ~42% to the final price.
Outdated
A 30% reduction in productivity levels since 1970 puts us back at 1948 construction productivity.
SPAC Merger Overview
BOXABL and FG Merger II Corp. have signed a definitive merger agreement to pursue a public listing on NASDAQ.
Enterprise Valuation
350 million shares to be issued at $10 per share, valuing BOXABL at approximately $3.5 billion.
NASDAQ Listing
The newly combined company is expected to trade on the Nasdaq Stock Market under the ticker symbol BXBL.
Equity Roll
All existing shareholders roll 100% of their equity into the public company. No minimum cash condition.
Big Market, Big Opportunity
A $2.2T total demand driven by a 10M+ home deficit, and 1.36M annual starts. BOXABL targets the prefab segment.
5.4M homes needed: 4.03M shortfall + 1.36M annual starts at $405K median price.
~103K manufactured homes shipped in 2024. The prefab segment BOXABL competes in.
5,000 homes/year single-factory capacity at scale. ~$175K avg. turnkey price per home.
Radically Simplified Engineering
Three folding building shells stack, connect, and onboard interiors to build any residential configuration. Exterior panels co-developed with Owens Corning.
Floor Plans That Flow
- 400–2,400 sqft | Studio–4bd | 1–3.5ba
- Steel construction, 10' ceilings
- Huge doors & windows
- Any architectural style
- 20x20 / 20x30 / 20x40 shells
Beautiful Interiors
- Obsessively designed feel-good spaces
- Tall ceilings and big windows
- Great sightlines throughout
- Premium finishes standard
- Kitchen, living, full-size bath
Beautiful Exteriors
- Perfect proportions, great curb appeal
- Any style: Colonial, Contemporary, Craftsman
- Mid-Century, Victorian, Mediterranean
- Modernist, Neoclassical, Industrial
- Shape separated from style
Turnkey Casita Pricing
Ownership program with financing and installation for a fixed price, focused first on the California market.
Casita Studio
Turnkey price — compact, efficient, fully finished
Casita 1-Bedroom
Turnkey price — our most popular configuration
Casita 2-Bedroom
Turnkey price — maximum living space
*Subject to individual site conditions. Some images may be rendered. Turnkey pricing bundles the base unit, financing, and on-site installation; the previously disclosed non-turnkey base-unit pricing (starting at ~$60,000 for the Casita) remains available for buyers who arrange their own site work and installation.
Six Sales Channels
A diversified go-to-market strategy spanning individual homeowners to federal agencies.
Turnkey Casita Program
Ownership program with financing and installation for a fixed price, focused first on the CA market.
Millions of Small Lots
Financing assistance, sales materials, approved state-stamped drawings, and Certificate of Origin titles.
Less Time, More Profit
Lower price per sqft, faster turns, reduced insurance, single-source warranty, full product traceability.
Next-Gen Travel Trailer
Patented self-leveling towable carrier with full studio home interior. 5,000 pre-orders as of 2026, launch anticipated 2027.
Tier-One Supplier
Collaborating with the world's largest technology companies on commercial building solutions.
FEMA, Military & Workforce
Thermally superior, rapid-assembly structures. Flat pack with 20-minute assembly on site.
Total Cost Savings
Factory production delivers ~40% lower total cost versus traditional stick-built construction.
Traditional Construction
| Construction Detail | Total Cost | Cost/sq ft |
|---|---|---|
| Engineering & Permit | $32,719.00 | $13.63 |
| Framing | $70,982.00 | $29.58 |
| Exterior Finishes | $57,510.00 | $23.96 |
| Major Systems Rough-ins | $82,319.00 | $34.30 |
| Interior Finishes | $103,391.00 | $43.08 |
| Other | $8,835.00 | $3.68 |
| Total Cost | $355,756.00 | $134.40 |
BOXABL Factory Production
| Construction Detail | Total Cost | Cost/sq ft |
|---|---|---|
| Engineering & Permit | $22,903.30 | $9.54 |
| Direct Materials | $125,575.00 | $56.49 |
| Direct Labor | $13,907.00 | $5.79 |
| Roofing | $9,792.00 | $4.08 |
| Cladding | $5,824.00 | $2.43 |
| Shipping & Install | $25,550.00 | $10.65 |
| Total Cost | $213,551.30 | $88.98 |
BOXABL estimated cost after investment in 5,000 annual unit automated factory. Source: NAHB, Cost of Constructing a Home (Jan 2025). Mirrors the breakdown disclosed in the BOXABL Investor Presentation, April 2026.
Cost — Speed — Quality
Cost
- Predictable per-unit cost
- Amortized overhead at scale
- Minimized site theft & waste
- Reduced insurance & financing
- Fewer professional services
Speed
- Homes built in hours, not days
- Less weather delays
- Factory pre-inspected
- Minimal community disruption
- Fewer professional services
Quality
- Steel framing, durable finishes
- Minimized mold & pest risk
- Full traceability & accountability
- Single-source warranty
- Fewer defects, safer sites
$235,000,000 Raised
One of the world's most successful crowdfunds. A massive brand built by the people.
Website Views
In the last 12 months
Social Media Views
Across all platforms since 2017
Customer Inquiries
Through our website since 2017
Ultimate Sustainability
Lowest cost of production in a factory typically leads to the least amount of energy expended. Sustainability is mostly a function of energy used.
Reconfigurable
Engineered to be reconfigured, relocated, or expanded post-sale. Traditional homes are permanent.
Less Mold
Built indoors — no rainfall, critters, or debris. 20% of new homes show visible mold; the invisible number is higher.
Less Site Waste
A typical new home generates 8,000 lbs of construction waste. Factory production eliminates on-site waste.
Less Site Theft
Factory production eliminates exposure to site theft during the build process — common in traditional construction.
Own the Stack. Services as Recurring Revenue. The Factory Is the Product.
Lower-margin physical product is the carrier for recurring higher-margin services.
AI Targeting Factory Throughput & Quality
BOXABL's engineering team is applying machine learning to specific factory deliverables — production scheduling to lift throughput, automated quality inspection to cut defect rates, and predictive maintenance to reduce unplanned downtime. Each is scoped to measurable KPIs on the line, not a posture.
"Own the Stack"
With time and scale, opportunities arise for vertical integration to lower costs, speed up fulfillment, add value to the ecosystem, and create a strong moat. BOXABL has engineered a comprehensive building system to enable strategic acquisitions.
Services as Recurring Revenue
Physical product carries 0–30% gross margin. Services — mortgage fees, SaaS, insurance, extended warranties, maintenance — deliver recurring 70–90% gross margin across all six sales channels.
The Factory Is the Product
The time and cost of replicating the system is significantly less than originating it — enabling BOXABL to franchise nationally and internationally quickly once the system is fully proven.
Policy Blueprint to Fix Housing
Three actions: (1) national make-and-sell certification for factories, (2) permit issuance via qualified engineer, (3) a 100-page performance code alongside today's 3,000-page prescriptive code.
400,000 sqft of Factories
Automated factory can produce more volume with less labor than a manual factory of the same size. Our proving ground for the scale path ahead.
Key Achievements
800+ Houses Built
Manufactured over 800 homes deployed across NV, CA, UT, OK, HI and more, with 12 states approved.
400,000 sqft of Factories
Manufacturing proving ground for automated factory production, scaling volume with less labor than traditional manual factories.
Material Impact on Federal Policy
BOXABL's efforts in Washington D.C. had a material impact on the President's Economic Report released April 2026, advancing the ROAD to Housing Act (HR6644).
43% Cost Reduction Since 2022
Assembly line efficiency, automation, and bulk purchasing drive costs below traditional construction, with further reductions ahead.
Federal Housing Policy Advisory
BOXABL was requested to meet privately with and advise eight federal agencies with recommendations to fix affordability.
Executive Team
BOXABL is an Exchange Act reporting company audited by CBIZ since 2023.
Paolo Tiramani
American futurist, degrees in industrial design and mechanical engineering, 155 patent filings, and related IP licensing to Fortune 500 companies.
Galiano Tiramani
Serial entrepreneur including cryptocurrency arbitrage, Bitcoin ATM, and an operating cannabis farm producing oils.
Kyle Denman
A graduate of Stony Brook with a Bachelors of Science in Mechanical Engineering (BSME). With 50 civil and automotive mechanical patent filings.
Martin Costas
Served as CFO, divisions at Honeywell, Schlumberger, Nexans, Fortune 50 leader at Sysco, 10 years at PwC.
Shan Palaniappan
Senior VP of Engineering at Sagent, CTO at DataRobot, plus a decade of experience at Salesforce.
Christian Kirchen
Automotive production manufacturing executive at tier 1 OEM suppliers Bosch, Thyssenkrupp, and Autoneum.
President / COO
Operations leadership overseeing factory ramp and national scale-up.
Dr. Morris Davis
2025 CEA Chief housing economist reporting to the President. Fed Reserve Board advisor to Greenspan, PhD UPenn.
Zvi Yemini
Serial industrialist MBA, Techcare NYSE chairman. Board Member at Peres Center. Billions in global sales.
Larry Swets
Head of Merchant Banking of Fundamental Global Inc. FGMC SPAC partner.
See BOXABL in Motion
A quick look at the BOXABL story — the factory, the folding shell, and the vision for housing at scale.
A Home That Ships Flat — Then Unfolds in Hours
Traditional homes are mostly empty space. BOXABL engineered a folding shell so each unit ships compactly on a single trailer — travels on standard roads, clears bridges, and unfolds on site into a full, finished home.
That one idea — fold the empty space for transport — is what turns home-building from a one-off craft project into a repeatable manufacturing process. Assembly-line builds, consistent quality, predictable pricing.
Get the Full Pitch Deck
The Casita, Three Ways
One folding shell, three fully-finished configurations — all turnkey, all with real kitchens, tall ceilings, and big windows.
Casita Studio
Compact, efficient, fully finished — an ideal ADU or starter home.
Casita 1-Bedroom
The most popular configuration — a separate bedroom plus a full-size living area.
Casita 2-Bedroom
Maximum living space — two full bedrooms for families or rental use.
From Casita to City Block
The same folding modules combine into single-family homes, townhomes, multi-family apartments, hotels, and mixed-use. One system, many shapes.
In the News & On the Line
Factory tours, product walk-throughs, Casita deliveries, news coverage, and investor updates — all on the BOXABL YouTube channel.
Come See It In Person
BOXABL's 400,000 sqft factory complex is open for tours by appointment. Walk the production line, see a finished Casita, and meet the team.
All Regulatory Filings
Filter by year and form type below. Each row links directly to the live SEC EDGAR search for that form.
| Form | Description | Filer | Status | Action |
|---|---|---|---|---|
| 8-K | Announcement of definitive merger agreement with BOXABL Inc. | FGMC | Filed | View on EDGAR |
| S-4 | Registration statement / joint proxy statement & prospectus for the proposed business combination | FGMC | Pending / forthcoming | View on EDGAR |
| DEF 14A | Definitive proxy statement for the FGMC shareholder vote on the proposed transaction | FGMC | Pending / forthcoming | View on EDGAR |
| 10-K | BOXABL annual report — comprehensive yearly business & audited financial statements | BOXABL | Filed annually | View on EDGAR |
| 10-Q | BOXABL quarterly report — unaudited financials, operations review, MD&A | BOXABL | Filed quarterly | View on EDGAR |
| 8-K | BOXABL current reports — material events, corporate changes, press-release exhibits | BOXABL | As filed | View on EDGAR |
| 3 / 4 / 5 | Insider transactions — initial holdings, changes in beneficial ownership, annual statements | BOXABL & FGMC | As filed by insiders | View on EDGAR |
| SC 13D / 13G | Beneficial ownership reports for holders of more than 5% of outstanding shares | BOXABL & FGMC | As filed by holders | View on EDGAR |
Investor Resources
Frequently Asked
BOXABL has signed a definitive merger agreement with FG Merger II Corp. to pursue a public listing on NASDAQ under the symbol BXBL. Upon completion of the merger, shares will be available for purchase on the public stock exchange.
The transaction is pending regulatory and shareholder approvals. Please review SEC filings on EDGAR for the most up-to-date information on timing and milestones.
All existing shareholders of BOXABL will roll 100% of their equity into the newly combined public company. The transaction includes no minimum cash condition, allowing it to proceed regardless of redemptions.
BOXABL chose to pursue a merger with a SPAC because it believes it is a way to become a publicly traded company and gain access to public capital markets more quickly and efficiently than a traditional IPO, and to better raise capital to support its growth.
The deal values BOXABL at approximately $3.5 billion, with 350 million shares to be issued at $10 per share.
Turnkey pricing starts at $150K for a Studio, $195K for a 1-Bedroom, and $205K for a 2-Bedroom. Subject to individual site conditions.
Important Investor Disclosures
Required disclosures for the proposed business combination between BOXABL Inc. and FG Merger II Corp. (FGMC). Scroll the box below to read in full.
Additional Information About the Proposed Transaction and Where to Find It
Additional information about the transaction, including a copy of the merger agreement has been filed by FGMC in a Current Report on Form 8-K with the U.S. Securities and Exchange Commission (the “SEC”). The proposed transaction will be submitted to shareholders of FGMC for their consideration. FGMC filed a registration statement on Form S-4 (the “Registration Statement”) with the SEC, which includes preliminary and definitive proxy statements to be distributed to FGMC’s shareholders in connection with FGMC’s solicitation of proxies for the vote by FGMC’s shareholders in connection with the proposed transaction and other matters to be described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to BOXABL’s shareholders in connection with the completion of the proposed transaction. After the Registration Statement has been filed and declared effective, a definitive proxy statement/prospectus and other relevant documents will be mailed to BOXABL stockholders and FGMC shareholders as of the record date established for voting on the proposed transaction. Before making any voting or investment decision, FGMC and BOXABL shareholders and other interested persons are advised to read, once available, the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive proxy statement/prospectus, as well as other documents filed with the SEC by FGMC in connection with the proposed transaction, as these documents will contain important information about FGMC, BOXABL and the proposed transaction. Shareholders may obtain a copy of the preliminary or definitive proxy statement/prospectus, once available, as well as other documents filed by FGMC with the SEC, without charge, at the SEC’s website located at www.sec.gov or by directing a written request to FG Merger II Corp., 104 S. Walnut Street, Unit 1A, Itasca, Illinois 60143 or to BOXABL 5345 E North Belt Rd Las Vegas NV 89115.
Forward-Looking Statements
This communication includes “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words such as “plan,” “project,” “will,” “estimate,” “intend,” “expect,” “believe,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on BOXABL’s current expectations and assumptions about future events, and include statements regarding the proposed business combination between BOXABL and FGMC and the expected benefits of the transaction; BOXABL’s market opportunity and the potential growth of that market; expected customer adoption; expected commercialization costs; the development of regulatory approvals; and BOXABL’s strategy, future plans, and prospective financial results.
These statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ materially from these forward-looking statements. Many factors could cause actual future events to differ materially, including, without limitation: BOXABL’s emerging technology and the competitive landscape of the housing industry; BOXABL’s history of losses; the need for additional regulatory approvals; risks related to the SPAC structure, including potential redemptions by FGMC shareholders that may reduce capital available to the combined company following completion of the transaction; and the possibility that the proposed business combination is not completed in a timely manner or at all. Forward-looking statements speak only as of the date they are made. Recipients are cautioned not to put undue reliance on forward-looking statements, and BOXABL and FGMC assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Participants in the Solicitation
BOXABL and FGMC and their respective directors and executive officers may be deemed under SEC rules to be participants in the solicitation of proxies of FGMC’s shareholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation, and information about their interests, by security holdings or otherwise, will be set forth in the proxy statement/prospectus when it is filed with the SEC. Additional information about FGMC’s directors and executive officers and their ownership of FGMC securities is, or will be, contained in FGMC’s filings with the SEC, including its periodic reports.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
This page is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Any such offering will be made only in accordance with the Securities Act of 1933, as amended. Investors should review all relevant SEC filings and consult with their financial advisors before making any investment decisions. Forward-looking statements involve risks and uncertainties. Visit boxabl.com/disclosure for full disclosures.