A modular home building company is getting ready to make their Wall Street debut.

What’s happening:

  • Modular home manufacturer BOXABL has entered into a business combination agreement with FG Merger Corp II (NASDAQ: FGMC) to become a publicly traded company on the Nasdaq

By the numbers:‍

  • The new SPAC deal values BOXABL at $3.5B USD
  • BOXABL has raised roughly $230M USD in venture capital funding and has landed more than 50,000 individual investors which has largely been fuelled by crowdfunding campaigns
  • FG Merger Corp II previously raised $80M USD in their IPO financing, however the merger does not come with any conditions on how much capital they will provide to BOXABL

Why it matters:‍

  • This is one of the single largest deals in Wall Street history for a modular home building company

Going deeper:‍

  • BOXABL’s technology is focused on building modular homes in a foldable, shippable design to reduce transportation costs and are purpose built to be able to be rapidly installed on location in an hour or less
  • BOXABL has cut multiple notable partnerships with large home building companies, including American home building giant DR Horton

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