The deal closing is imminent, but with only ~$14M remaining in trust after the 82.7% redemption rate, the combined company faces severe cash constraints. Traders in the SPAC should expect high volatility around the close and initial trading of BXBL; the fundamental challenge is whether BOXABL can fund operations and execute on the $12.4M Phase 2 purchase agreement with such limited capital. Monitor for any additional PIPE financing or forward purchase agreement details.
Price Chart
Executive Summary
Both FG Merger II Corp. (FGMC) and BOXABL stockholders voted to approve the business combination at their respective special meetings on June 9, 2026. The deal is expected to close shortly, with the combined company to trade on Nasdaq under 'BXBL', retaining approximately $14 million (20% of trust cash). This filing confirms shareholder approval and removes the deal's main remaining condition, but the high 82.7% redemption rate previously reported leaves minimal cash for post-close operations.
Key Financial Metrics
Key Facts
- FGMC and BOXABL stockholders approved the business combination on June 9, 2026.
- Expected close shortly; combined company to trade as BXBL on Nasdaq.
- Approximately $14 million (20% of trust) remains after ~82.7% redemption of FGMC shares.
- BOXABL reported 99.4% of outstanding shares (2,982,928,700 of 3 billion) present at its special meeting.
- Third amendment to merger agreement (May 6, 2026) replaced forms of lock-up agreements.
- An OTC Equity Prepaid Forward Transaction provides replacement capital for redeemed trust assets but is insufficient to ensure minimum cash requirements.
Financial Impact
~$68.8M was redeemed from trust, leaving only ~$14M for the combined company post-closing — a severely constrained cash position relative to BOXABL's operational needs.
Risk Factors
- Extremely low post-close cash balance (~$14M) may not sustain BOXABL's operations without immediate additional financing.
- High redemption rate signals lack of confidence from SPAC shareholders, potentially pressuring post-close stock price.
- Related-party OTC forward transaction creates potential conflicts of interest and may not fully address capital needs.
- BOXABL is pre-revenue at commercial scale; the cash runway post-close is uncertain.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001104659-26-072321 |
| Document: 0001104659-26-072321-index-headers.html | 0001104659-26-072321 |
| Document: 0001104659-26-072321-index.html | 0001104659-26-072321 |
| Document: 0001104659-26-072321.txt | 0001104659-26-072321 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 10, 2026 19w ago | 425 | $0.9905 $0.9071 | ▲ +8.42% | ▲ +10.31% | — |
Jun 9, 2026 20w ago | 425 | $0.9819 $0.9071 | ▼ −7.62% | ▼ −11.24% | — |
Jun 8, 2026 20w ago | 425 | $0.9537 $0.8800 | ▲ +7.73% | ▲ +9.17% | — |
Jun 3, 2026 20w ago | 425 | $0.8400 $0.8700 | ▲ +3.57% | ▲ +4.70% | — |
May 29, 2026 21w ago | 425 | $0.8100 $0.9900 | ▲ +22.22% | ▲ +25.86% | — |
May 29, 2026 21w ago | 8-K | $0.8100 $0.9900 | ▲ +22.22% | ▲ +25.86% | — |
May 26, 2026 22w ago | 425 | $0.7560 $0.8849 | ▲ +17.05% | ▲ +19.34% | — |
May 21, 2026 22w ago | DEFA14A | — | awaiting T+20 | — | — |
May 13, 2026 23w ago | DEFA14A | — | awaiting T+20 | — | — |
May 13, 2026 23w ago | 425 | — | awaiting T+20 | — | — |
US Market Status
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