NEW YORK, May 27, 2026, 05:13 (EDT)
- FG Merger II finished Tuesday at $10.33, gaining 0.15%. The stock ended one cent shy of its 52-week high ahead of regular U.S. trade on Wednesday.
- Boxabl got regulatory signoff in Texas for its Casita Studio, bringing new operating news for the company that FGMC wants to merge with.
- Shareholders will vote June 9 on the merger proposal. If the deal goes through and all conditions clear, the new company would start trading on Nasdaq as BXBL.
FG Merger II Corp. shares hovered just under their 52-week peak after Boxabl, the modular-home startup it’s taking public, got the go-ahead to sell and install its Casita Studio in Texas. FGMC ended Tuesday’s session at $10.33, up 0.15%. It moved between $10.32 and $10.34 on the day, according to Google Finance.
Timing is key here. FGMC is going into a June 9 shareholder vote on merging with Boxabl, which is less than two weeks away. Meanwhile, Boxabl just landed new state-level approval, giving it another operational win to show investors ahead of that vote.
Nasdaq’s main session was still closed at the dateline time. The exchange says pre-market runs 4:00 a.m. to 9:30 a.m. Eastern, with regular trading hours from 9:30 a.m. until 4:00 p.m. Eastern.
Boxabl said Tuesday it now has approval to sell in Texas, calling it one of the most active housing markets in North America. Co-CEO Galiano Tiramani called Texas “the single most significant growth opportunity for BOXABL to date,” citing more people moving in and new rules easing the way for homeowners to add accessory dwelling units or small second homes. PR Newswire
Boxabl’s merger deal is nearing a vote after the U.S. Securities and Exchange Commission cleared the companies’ Form S-4, the merger registration document for issuing securities. Boxabl founder and co-CEO Paolo Tiramani called the S-4 effectiveness “a major step” for a public listing and said it will help expand Casitas production across the country.
FGMC is a SPAC, a blank-check company that raises funds to merge with a private firm. In its latest quarterly filing, FGMC reported $82.9 million in trust and 8 million public shares that could potentially be redeemed if holders want to cash out after a deal instead of staying invested.
Trust is part of why the stock’s been stuck in a tight range instead of acting like a typical homebuilder. The price reflects an expected deal, not FGMC’s sales right now.
Stocks pushed higher with help from the overall market. The Nasdaq Composite climbed 1.19% Tuesday to finish at 26,656.18. The S&P 500 added 0.6%, AP reported, as Wall Street came back from the Memorial Day break and gains in big tech took indexes to new highs.
Competitive signals are mixed. Cavco Industries and Champion Homes are closer public comps for factory-built housing since they both make and sell manufactured or modular homes. FGMC is still just a deal vehicle ahead of its Boxabl merger. Cavco last traded at $529.02, up 3.9%. Champion was at $71.79, up 1.3%.
Boxabl said last August it would go public in a SPAC deal priced at $3.5 billion. FG Merger planned to issue 350 million shares to Boxabl, and the combined business aimed to list on Nasdaq under BXBL.
But the risks are laid out. The merger needs shareholder votes and has to clear other hurdles, and public shareholders can redeem their shares for cash. If too many redeem, the combined company could get less money. The proxy also notes the Nasdaq listing must go through, or the deal does not close.
FGMC is mostly sitting at cash value ahead of its vote, like many SPACs before key dates. Texas approval gives Boxabl some extra talking points. The June 9 vote will determine if that pitch moves forward as a Nasdaq-traded company.
