FG Merger II Corp Closes Redemption Window as BOXABL Merger Advances Toward Public Market Debut

ITASCA, Illinois — FG Merger II Corp. (NASDAQ: FGMC) has officially announced the closing of the redemption window for its proposed business combination with BOXABL Inc., marking a significant milestone in the transaction process as the modular housing innovator moves closer to becoming a publicly traded company.

Redemption Period Officially Ends

According to FG Merger II Corp., the deadline for public stockholders to exercise redemption rights expired on June 5, 2026, at 5:00 p.m. Eastern Time. The redemption process allowed shareholders to redeem their shares in exchange for a portion of the funds held in the company's trust account before the completion of the proposed merger with BOXABL.

The closing of the redemption window represents a critical step toward finalizing the business combination, which is expected to transform BOXABL into a publicly traded company listed on the Nasdaq stock exchange.

More Than 6.6 Million Shares Redeemed

FG Merger II Corp. reported that approximately 6,615,950 shares of common stock were submitted for redemption by shareholders. Based on the redemption value of approximately $10.40 per share, around $68.8 million will be withdrawn from the company's trust account and distributed to redeeming investors.

Following the redemption process, approximately 1,384,050 public shares remain outstanding, while roughly $14 million remains in the trust account ahead of the shareholder vote on the proposed merger.

BOXABL Moves Closer to Becoming a Public Company

The proposed business combination between FG Merger II Corp. and BOXABL has been progressing steadily throughout 2026. Earlier, the U.S. Securities and Exchange Commission (SEC) declared effective the companies' joint registration statement on Form S-4, allowing the transaction to move forward to shareholder approval.

BOXABL is widely known for its innovative approach to factory-built housing. The company develops foldable, modular housing units designed to improve construction efficiency, reduce costs, and address housing affordability challenges across the United States.

Shareholder Vote Scheduled

The next major step in the transaction process is the special shareholder meeting scheduled for June 9, 2026. During this meeting, shareholders of FG Merger II Corp. will vote on whether to approve the proposed business combination with BOXABL.

Company officials have encouraged shareholders to participate in the vote, emphasizing the importance of obtaining approval to complete the transaction and move forward with the merger.

What Happens to Non-Redeeming Shareholders?

FG Merger II Corp. previously stated that shareholders who chose not to redeem their shares will automatically become shareholders of the combined company upon the successful completion of the merger.

Once the transaction closes, FG Merger II Corp. is expected to be renamed BOXABL, Inc. and continue trading on Nasdaq under the anticipated ticker symbol BXBL.

Transaction Valuation and Strategic Importance

The merger agreement values the combined company at approximately $3.5 billion, highlighting investor confidence in BOXABL's long-term growth strategy and innovative housing technology. The transaction is expected to provide BOXABL with greater access to capital markets, supporting future expansion, manufacturing scale-up efforts, and product development initiatives.

Industry observers view the merger as an important development within the modular housing sector, which continues to attract attention as governments and developers seek cost-effective solutions to housing shortages and affordability concerns.

Recent Developments Ahead of Closing

In preparation for the merger, the companies have made several adjustments to transaction-related agreements, including revisions to lock-up provisions for certain shareholders and stakeholders. These amendments are intended to support a smoother transition into the public markets following the merger's completion.

BOXABL has also continued expanding its operational capabilities, focusing on manufacturing efficiency, automation technologies, and new housing solutions aimed at increasing production capacity and market reach.

Looking Ahead

With the redemption window now closed and shareholder voting underway, FG Merger II Corp. and BOXABL are entering the final stages of their proposed business combination. If approved by shareholders and subject to customary closing conditions, the transaction could be completed shortly after the vote, paving the way for BOXABL's entrance into the public markets.

The successful completion of the merger would mark a major milestone for BOXABL, providing the company with new opportunities to accelerate growth and expand its presence in the rapidly evolving modular housing industry.

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