FG Merger II Corp. Announces Closing of the Redemption Window for its Business Combination with BOXABL

FG Merger II Corp. (NASDAQ: FGMC) has announced the closure of the redemption window for its proposed business combination with BOXABL, Inc., a company specializing in innovative housing solutions. The transaction, valued at approximately $68.8 million, allows stockholders who opted not to redeem their shares to transition into BOXABL stockholders. The redemption deadline for FGMC stockholders was set for June 5, 2026, and the special meeting to vote on the merger is scheduled for June 9, 2026.

During the redemption period, approximately 6,615,950 shares of FGMC common stock were tendered for redemption, resulting in the removal of around $68.8 million from FGMC's trust account. Post-redemption, FGMC will have 1,384,050 public shares outstanding, with approximately $14 million remaining in its trust account. This strategic move is part of FGMC's plan to finalize its merger with BOXABL, which is expected to enhance the company's positioning in the modular housing sector.

BOXABL, founded in 2017, has garnered attention for its innovative modular building systems aimed at providing affordable housing solutions quickly and efficiently. Its flagship product, the Casita, is a 361 square foot studio unit that can be assembled on-site in less than an hour. The company is also developing additional models, including the Baby Box, which is a smaller unit designed for simpler setups, as well as stackable and connectable models that can be combined to create larger living spaces. This approach aligns with growing demand for affordable housing solutions in various markets.

The merger with BOXABL represents a significant strategic rationale for FG Merger II Corp. as it seeks to capitalize on the increasing interest in modular construction and affordable housing. The housing market has faced challenges in recent years, including rising costs and supply chain disruptions, making BOXABL's innovative solutions particularly relevant. By transitioning into BOXABL, FGMC aims to leverage the company's technology and market positioning to capture a share of the evolving housing landscape.

As the broader market continues to navigate economic uncertainties, the successful completion of this SPAC transaction could signal a renewed interest in the modular housing sector. Investors are increasingly looking for opportunities that address pressing housing challenges, and BOXABL's unique offerings may position it favorably within this competitive space. The upcoming special meeting will be pivotal in determining the future of FG Merger II Corp. as it seeks to rebrand as BOXABL, Inc. and further its mission of transforming the housing market.