Modular building startup Boxabl to list on Nasdaq in US$3.5 billion SPAC deal
Modular building startup Boxabl will go public in the U.S. through a US$3.5 billion merger with special purpose acquisition company FG Merger II, the companies said on Tuesday.
Modular housing is widely recognized for its potential to deliver affordable, timely, and scalable housing solutions in both emergency and market-driven contexts.
Innovation in the housing market – a segment of the economy most sensitive to monetary policy – is also necessitated by rising housing prices, which hit a record high in June amid elevated interest rates and supply crunch.
The deal will allow Boxabl to expand its production capabilities and meet growing demand for its modular building systems, as well as invest in research and development.
Founded in 2017, Las Vegas-based Boxabl designs and manufactures foldable, modular homes. Known for its foldable 361 square foot 'Casita' homes, some of the company's housing models can be purchased for as little as US$19,999.
Boxabl is led by founders and co-CEOs Paolo and Galiano Tiramani. FG Merger will issue 350 million shares to Boxabl.
SPACs, also known as blank-check firms, raise capital through an initial public offering with the sole purpose of taking a private company public.
Listing shares via SPAC mergers allows companies to avoid some scrutiny that comes with the traditional IPO process.
Boxabl, which has raised over US$230 million to date, has previously also used crowdfunding to raise capital, an alternative fundraising strategy that allows small everyday investors to buy shares in a company.
The company also adopted a bitcoin treasury strategy in May, allowing for a percentage of its assets to acquire the cryptocurrency.
The combined company will be listed on the Nasdaq under the symbol 'BXBL.'
Maxim Group and Winston & Strawn advised Boxabl, while Loeb & Loeb advised FG Merger.
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Reporting by Arasu Kannagi Basil and Ateev Bhandari in Bengaluru; Editing by Shailesh Kuber
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The ER+/ HER2 -ve Breast Cancer pipeline report provides insights into The report provides detailed insights about companies that are developing therapies for the treatment of ER+/ HER2 -ve Breast Cancer with aggregate therapies developed by each company for the same. It accesses the Different therapeutic candidates segmented into early-stage, mid-stage, and late-stage of development for ER+/ HER2 -ve Breast Cancer Treatment. ER+/ HER2 -ve Breast Cancer Companies are involved in targeted therapeutics development with respective active and inactive (dormant or discontinued) projects. ER+/ HER2 -ve Breast Cancer Drugs under development based on the stage of development, route of administration, target receptor, monotherapy or combination therapy, a different mechanism of action, and molecular type. Detailed analysis of collaborations (company-company collaborations and company-academia collaborations), licensing agreement and financing details for future advancement of the ER+/ HER2 -ve Breast Cancer market. Get a detailed analysis of the latest innovations in the ER+/ HER2 -ve Breast Cancer pipeline. Explore DelveInsight's expert-driven report today! @ ER+/ HER2 -ve Breast Cancer Unmet Needs ER+/ HER2 -ve Breast Cancer Companies AstraZeneca, Atossa Therapeutics, Inc., Accutar Biotechnology Inc, VelosBio Inc, Merus N.V., Pfizer, Olema Pharmaceuticals, Inc., Eli Lilly and Company, Novartis Pharmaceuticals, Hoffmann-La Roche, Ellipses Pharma, BeiGene and others. ER+/ HER2-VE Breast Cancer pipeline report provides the therapeutic assessment of the pipeline drugs by the Route of Administration. Products have been categorized under various ROAs such as Oral Intravenous Subcutaneous Parenteral Topical ER+/ HER2 -ve Breast Cancer Products have been categorized under various Molecule types such as Recombinant fusion proteins Small molecule Monoclonal antibody Peptide Polymer Gene therapy Download DelveInsight's latest report to gain strategic insights into upcoming ER+/ HER2 -ve Breast Cancer Therapies and key developments @ ER+/ HER2 -ve Breast Cancer Market Drivers and Barriers, and Future Perspectives Scope of the ER+/ HER2 -ve Breast Cancer Pipeline Report Coverage- Global ER+/ HER2 -ve Breast Cancer Companies- AstraZeneca, Atossa Therapeutics, Inc., Accutar Biotechnology Inc, VelosBio Inc, Merus N.V., Pfizer, Olema Pharmaceuticals, Inc., Eli Lilly and Company, Novartis Pharmaceuticals, Hoffmann-La Roche, Ellipses Pharma, BeiGene and others. 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Drug profiles in the detailed report….. Early Stage Products (Phase I) AC699: Accutar Biotechnology Inc Drug profiles in the detailed report….. Preclinical and Discovery Stage Products Drug Name: Company Name Drug profiles in the detailed report….. Inactive Products ER+/ HER2-VE Breast Cancer Key Companies ER+/ HER2-VE Breast Cancer Key Products ER+/ HER2-VE Breast Cancer- Unmet Needs ER+/ HER2-VE Breast Cancer- Market Drivers and Barriers ER+/ HER2-VE Breast Cancer- Future Perspectives and Conclusion ER+/ HER2-VE Breast Cancer Analyst Views ER+/ HER2-VE Breast Cancer Key Companies Appendix About Us DelveInsight is a leading healthcare-focused market research and consulting firm that provides clients with high-quality market intelligence and analysis to support informed business decisions. With a team of experienced industry experts and a deep understanding of the life sciences and healthcare sectors, we offer customized research solutions and insights to clients across the globe. Connect with us to get high-quality, accurate, and real-time intelligence to stay ahead of the growth curve. Media Contact Company Name: DelveInsight Business Research LLP Contact Person: Yash Bhardwaj Email: Send Email Phone: 09650213330 Address: 304 S. Jones Blvd #2432 City: Las Vegas State: NV Country: United States Website:
