Latest news with #BOXABL
Yahoo
9 hours ago
- Business
- Yahoo
BOXABL Announces Intent to Merge with a SPAC, Targeting Nasdaq Listing
LAS VEGAS, June 9, 2025 /PRNewswire/ -- BOXABL Inc., a leading innovator in modular housing solutions ("BOXABL"), is pleased to announce that it has entered into a non-binding letter of intent (the "LOI") regarding a proposed business combination (the "Proposed Transaction") with a Nasdaq-listed special purpose acquisition company ("SPAC") that, if completed, will result in BOXABL becoming a publicly listed company. Pursuant to the LOI, BOXABL and the SPAC intend to undertake discussions for the purpose of entering into a definitive agreement (the "Proposed Definitive Agreement") in respect of the Proposed Transaction. Upon closing of the Proposed Transaction, the combined company is expected to remain listed on the Nasdaq Stock Market. The Proposed Transaction represents a significant step forward in BOXABL's mission to revolutionize affordable, sustainable housing. BOXABL currently has over 50,000 investors, representing an aggregate investment of over $200 million, who have shown support for BOXABL's mission and vision. Understanding the SPAC Structure A SPAC, also known as a blank check company, is a publicly traded entity formed to raise capital through an initial public offering (IPO) with the sole purpose of acquiring a private company and taking it public. In this case, the SPAC involved raised $80 million in its IPO which is available to support the Proposed Transaction (subject to redemption by the SPAC's stockholders). Transaction Details and Caveats Under the terms of the LOI, BOXABL and the SPAC would merge to become a combined entity. The Proposed Transaction contemplates that BOXABL's existing equity holders would roll 100% of their equity into the combined public company. Completion of the Proposed Transaction is subject to, among other matters, the completion of due diligence, the negotiation of the Proposed Definitive Agreement, satisfaction of the conditions negotiated therein and approval of the transaction by the board and stockholders of both BOXABL and the SPAC. There can be no assurance that the Proposed Definitive Agreement will be entered into or that the Proposed Transaction will be consummated on the terms or timeframe currently contemplated, or at all. If a legally binding Proposed Definitive Agreement is executed, a proxy statement will be filed with the Securities and Exchange Commission (SEC). About BOXABL BOXABL is a Las Vegas-based technology company dedicated to transforming the housing industry through innovative manufacturing and design. With a focus on affordability, sustainability, and scalability, BOXABL's products are designed to address the housing needs for today and tomorrow. Forward-Looking Statements The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics and projections of market opportunity and expectations, and BOXABL's ability to enter into the Proposed Definitive Agreement or consummate the Proposed Transaction. These statements are based on various assumptions and on the current expectations of BOXABL's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of BOXABL and the SPAC. These forward-looking statements are subject to a number of risks and uncertainties, including: BOXABL's ability to enter into a definitive agreement with respect to the proposed business combination or consummate a transaction with the SPAC; the risk that the approval of the shareholders of BOXABL and the SPAC for the potential transaction is not obtained; and failure to realize the anticipated benefits of the potential transaction, including as a result of a delay in consummating the potential transaction. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that BOXABL presently does not know or that BOXABL currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect BOXABL's expectations, plans or forecasts of future events and views as of the date hereof. BOXABL anticipates that subsequent events and developments will cause BOXABL's assessments to change. However, while BOXABL may elect to update these forward-looking statements at some point in the future, BOXABL specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing BOXABL's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Important Information about the Proposed Business Combination and Where to Find It In connection with the Proposed Transaction, SPAC, BOXABL and/or a successor entity of the transaction intends to file relevant materials with the SEC, including a registration statement on Form S-4 containing a proxy statement/prospectus (the "Registration Statement") with the SEC. The Registration Statement will include a proxy statement/prospectus to be distributed to holders of SPAC's common stock in connection with SPAC's solicitation of proxies for the vote by SPAC's stockholders with respect to the proposed transaction and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of securities to be issued to BOXABL's stockholders in connection with the proposed business combination. After the Registration Statement has been filed and declared effective, SPAC will mail a definitive proxy statement, when available, to its stockholders. Before making any voting or investment decision, investors and security holders and other interested parties are urged to read the Registration Statement, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about SPAC, BOXABL and the proposed business combination. Copies of these documents may be obtained free of charge at the SEC's website at Participants in the Solicitation This communication may be deemed to be solicitation material in respect of the Proposed Transaction. BOXABL and its directors and executive officers may be deemed participants in the solicitation of proxies from the shareholders of BOXABL and the SPAC in connection with the Proposed Transaction. A list of the names of such directors and executive officers and information regarding their interests in the Proposed Transaction will be included in the Registration Statement. Non-Solicitation This press release is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Proposed Transaction. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. View original content to download multimedia: SOURCE Boxabl
Malaysian Reserve
22-05-2025
- Business
- Malaysian Reserve
Home Manufacturer BOXABL Adopts Bitcoin Treasury Reserve Strategy
LAS VEGAS, May 22, 2025 /PRNewswire/ — BOXABL has adopted a Bitcoin treasury reserve strategy, allowing for a percentage of its assets to acquire Bitcoin. Holding cash reserves in US dollars limits diversification of the company's treasury assets to an asset that can decline in value as a result of inflation. BOXABL made the decision to follow industry leaders like Tesla, Coinbase, MicroStrategy, Michael Saylor, the USA government and more in adopting a Bitcoin treasury reserve strategy. This allows for the holding of an asset that has the liquidity of cash, but has experienced general appreciation in value since the Bitcoin whitepaper was first released. Cryptocurrencies have become more standardized as a form of payment for products, and BOXABL accepts cryptocurrencies as payment for the sale of its innovative housing products. A Bitcoin reserve strategy provides the company with the following potential benefits: Hedge Against Inflation and Currency Devaluation; Portfolio Diversification; Capital Appreciation; Liquidity and Flexibility; Counterparty Risk Reduction; Capital Formation and Financial Innovation; and Resilience Against Economic Shocks. Other Examples of companies that took this approach include: Marathon Digital, Riot Platforms, CleanSpark, Hut 8 Mining, Block, Galaxy Digital Holdings, Metaplanet, Rumble, Cosmos Health, Hoth Therapeutics, Acurx Pharmaceuticals, Thumzup Media, Semler Scientific, DeFi Technologies, Solidion Technology, Genius Group, LQR House, Remixpoint, Jiva Technologies, Bitcoin Well, Matador Technologies, BitFuFu, Leef Brands, KULR Technology, Tether International, Grayscale Investments, Coinshares, 3iQ, Snappa, Mode Global Holdings, Nexon, Hive Blockchain. BOXABL is a Las Vegas-based construction technology company, founded in 2017, that designs and manufactures foldable, modular homes to address the global housing crisis. Its flagship product, the Casita, is a 375-square-foot, fully furnished home that can be shipped and set up in hours, offering affordability, durability, and energy efficiency. By leveraging automotive-style mass production and patented folding technology, BOXABL aims to lower homeownership costs and enable scalable housing solutions for residential, disaster relief, and institutional use.
Yahoo
14-05-2025
- Business
- Yahoo
BOXABL Expands to Colorado: Delivering 12 Casitas to Pueblo's Westgate
Once complete, the flagship community is expected to hold 350+ built-to-rent homes. LAS VEGAS, May 13, 2025 /PRNewswire/ -- BOXABL, the Las Vegas-based startup with a mission to solve the global housing crisis, is taking its next step in expansion with the planned delivery of 12 Casita units to Pueblo, CO. This initial order will support the launch of the new Westgate Development housing community—and with it, BOXABL will begin the process to obtain modular certification in the state of Colorado. BOXABL's Partnership with Westgate Development Spearheaded by Down by the Bay LLC, the Westgate Development is a 350+ lot built-to-rent community showcasing the BOXABL Casita, with plans to eventually include one- and two-bedroom layouts throughout the development. The Future of Modular Communities Westgate is one of many large-scale developments tapping into BOXABL's ability to help revolutionize the housing industry. Developers can keep lean on projects and make strategic pivots in planning, thanks to BOXABL's easy product offerings and easy installation. At the same time, tenants can secure housing with modern amenities, without sacrificing comfort, design, or durability. How to Build & Invest with BOXABL BOXABL is actively seeking partnerships with large-scale developers interested in constructing entire communities using its innovative housing solutions. For those looking to invest in the company, BOXABL shares are available for $0.80 a share. PLEASE READ THE OFFERING CIRCULAR HERE About BOXABLFounded in 2017, BOXABL has raised over $170 million from more than 40,000 investors. The Las Vegas-based company is dedicated to transforming the housing industry through innovative technology and design. BOXABL's products are designed to address the housing needs of today and tomorrow. View original content to download multimedia: SOURCE Boxabl
Yahoo
15-03-2025
- Business
- Yahoo
BOXABL Secures Contract With HORIZONS, a Nationwide Hospitality Group
The deal will send a combined 60 Casitas to South Carolina and California, with plans for further expansion. LAS VEGAS, March 14, 2025 /PRNewswire/ -- BOXABL, the innovative construction technology startup, has entered a strategic partnership with HORIZONS, a nationwide hospitality group specializing in upscale glamping resorts. As part of the agreement, BOXABL will deliver 60 Casitas to HORIZONS' new resort locations in South Carolina and California. Innovating the Glamping Industry with Modular TechnologyHORIZONS is a fast-growing hospitality brand redefining the outdoor experience by combining luxurious, eco-friendly accommodations with immersive natural settings. Each resort is designed to provide premium comfort while maintaining a deep connection with nature, offering spa facilities, outdoor adventures, and sustainable lodging. "After exploring multiple accommodation options, we found that BOXABL Casitas are the perfect fit for our vision," said Igor Semenov, Founder of HORIZONS. "Their cutting-edge modular homes allow us to seamlessly integrate modern comforts into nature without compromising efficiency or sustainability. Our strategic partnership with BOXABL will enable us to scale quickly while maintaining our commitment to quality and guest experience." BOXABL's foldable housing units have been used in various applications, and this partnership showcases how the company's modular technology can be leveraged for the hospitality industry. A Nationwide Expansion PlanLooking ahead, BOXABL and HORIZONS have expressed plans to expand their collaboration by introducing Casitas in Texas, Tennessee, Ohio, and additional locations across the U.S. As BOXABL continues to grow, the company remains focused on optimizing production and delivering modern, efficient housing solutions to a broad range of industries. Investment and Future OpportunitiesAlongside this project, BOXABL is actively seeking partnerships with large-scale developers to build communities. Additionally, the opportunity to invest in BOXABL on StartEngine is closing soon. This is the last chance to invest in BOXABL on StartEngine. To learn more about investing in BOXABL, please read the offering circular here. About BOXABLSince its inception in 2017, BOXABL has raised over $170 million from more than 40,000 investors. The Las Vegas-based company is dedicated to transforming the housing industry through innovative technology and design. BOXABL's products are designed to address the housing needs of today and tomorrow. View original content to download multimedia: SOURCE Boxabl Sign in to access your portfolio
Yahoo
28-01-2025
- Business
- Yahoo
BOXABL Launches $19,999 Baby Box: A Turnkey Home on Wheels
LAS VEGAS, Jan. 28, 2025 /PRNewswire/ -- BOXABL is proud to announce the launch of the Baby Box, a groundbreaking portable living space designed to deliver affordability, flexibility, and functionality. With an introductory price of $19,999, the Baby Box offers unmatched value for a turnkey home. Pre-orders are now open on the BOXABL website, with deliveries expected to begin in late 2025. "At BOXABL, we're committed to creating innovative housing solutions that are both accessible and adaptable," said Galiano Tiramani, Founder. "The Baby Box is a testament to our mission of making quality living spaces available to everyone, whether they need a home, workspace, or temporary accommodation." The Baby Box features a compact yet modern design, offering a fully functional living space built to RV code. It's easy to set up, with no foundation or special equipment required, and can seamlessly operate off-grid or connect with a standard hose and outlet. Its versatility makes it the perfect solution for a range of needs, including disaster relief, workforce accommodations, community projects, or simply providing extra space for personal use. To see the Baby Box in action, click here to watch the official video showcasing its design and capabilities. About BOXABL:BOXABL is a housing technology company dedicated to revolutionizing the construction industry with innovative, high-quality, and affordable housing solutions. From the iconic Casita to the newly launched Baby Box, BOXABL continues to lead the way in redefining modern living. View original content to download multimedia: SOURCE Boxabl Sign in to access your portfolio
