FG Merger II Corp and BOXABL Merger Approved; BOXABL to Retain 20% and $14M
FGMC•FGMC and BOXABL stockholders approved the business combination, enabling the combined company to begin Nasdaq trading under ticker BXBL upon closing. BOXABL will retain about 20% ownership and $14 million in trust, with an update on the initial trading date to follow.
1. Stockholder Approval and Transaction Milestones
At special meetings on June 9, 2026, FGMC and BOXABL stockholders approved all proposals necessary for the business combination, including conversion, governance changes, director elections, share issuances and incentive plans. The merger will proceed through a two-step structure, with FG Merger Sub II merging into BOXABL followed by BOXABL merging into FGMC.
2. Ownership Structure and Cash Trust
Following the closing, BOXABL shareholders will hold approximately 20% of the combined company and retain $14 million in cash held in trust. This capital will support ongoing modular housing production and scalability initiatives.
3. Nasdaq Listing and Trading Ticker
Upon completion of the merger, FG Merger II Corp. will be renamed BOXABL Inc. and its common stock will commence trading on the Nasdaq under the ticker symbol BXBL. Management has committed to providing an update on the exact timing of the first trading day.
4. Redemption Rights and Shareholder Options
FGMC stockholders who did not redeem their shares before the June 5, 2026 deadline will automatically become shareholders of BOXABL Inc. Investors who tendered shares for redemption may withdraw their requests by contacting Continental Stock Transfer & Trust Company prior to closing.
