Latest news with #PaoloTiramani
CTV News
05-08-2025
- Business
- CTV News
Modular building startup Boxabl to list on Nasdaq in US$3.5 billion SPAC deal
In this May 16, 2012 file photo, a taxi passes in front of the Nasdaq MarketSite in New York's Times Square. (AP Photo/Richard Drew, File) 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. --- Reporting by Arasu Kannagi Basil and Ateev Bhandari in Bengaluru; Editing by Shailesh Kuber
Yahoo
05-08-2025
- Business
- Yahoo
Modular building startup Boxabl to list on Nasdaq in $3.5 billion SPAC deal
(Reuters) -Modular building startup Boxabl will go public in the U.S. through a $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 $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 $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. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
05-08-2025
- Business
- Reuters
Modular building startup Boxabl to list on Nasdaq in $3.5 billion SPAC deal
Aug 5 (Reuters) - Modular building startup Boxabl will go public in the U.S. through a $3.5 billion merger with special purpose acquisition company FG Merger II (FGMC.O), opens new tab, 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 $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 $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.
Yahoo
05-08-2025
- Business
- Yahoo
Modular building startup Boxabl to list on Nasdaq in $3.5 billion SPAC deal
(Reuters) -Modular building startup Boxabl will go public in the U.S. through a $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 $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 $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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malaysian Reserve
07-07-2025
- Business
- Malaysian Reserve
BOXABL Launches Search for New Directors and Executive Leadership
LAS VEGAS, July 7, 2025 /PRNewswire/ — As BOXABL prepares for its next stage of growth and expansion, the company is initiating a search for new members of the Board of Directors and Executive C-Suite. This strategic leadership expansion aims to position BOXABL for long-term success as it increases manufacturing capacity and continues to grow its market presence. The company is focused on identifying exceptional individuals with a proven track record of building and scaling high-growth ventures. BOXABL is particularly interested in candidates with extensive experience in the following fields: Operations & Manufacturing Scale Finance & Capital Markets Military & Government Partnerships Mass Merchant Retail & Distribution Digital Systems & Infrastructure Government Affairs & Lobbying 'Boxabl is approaching a significant inflection point in its growth,' said Paolo Tiramani, CEO. 'We're seeking visionary leaders who can help guide the company through its next phase and bring deep expertise in critical growth areas.' Selected individuals will play a vital role in shaping BOXABL's trajectory and contributing to its mission to deliver affordable, high-quality housing at scale. Interested candidates are invited to send their professional biography and cover letter to hello@ About BOXABLBOXABL 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 patented technology enables the mass production of high-quality, cost-effective homes. The company has attracted over 50,000 investors and raised more than $200 million to support its vision of addressing the global housing crisis. For more information about BOXABL and its mission, visit Forward-Looking Statements:This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding BOXABL's board search, public company transition, and proposed business combination with a SPAC. These statements are subject to risks and uncertainties, and actual results may differ materially. For more information on these risks, please refer to BOXABL's filings with the Securities and Exchange Commission.
