A Las Vegas company that manufactures factory-built housing completed a business combination on July 17, 2026, giving it a public listing and a negotiated valuation of $3.5 billion. A business combination, in this context, is a merger between a private operating company and an already-listed corporate shell; the private firm absorbs the shell's exchange listing rather than filing for a traditional initial public offering. BOXABL Inc. executed that transaction with FG Merger II Corp., and shares are scheduled to begin trading on the Nasdaq Stock Market under the ticker BXBL on July 20, 2026.
What the merger structure transferred
FG Merger II Corp. was the listed vehicle; BOXABL Inc. was the private company seeking a public home. Stockholders of FG Merger II Corp. voted to approve the combination on June 9, 2026, clearing the required formal gate before closing could happen. Without that vote, the deal cannot proceed to close. Once it cleared, the two companies completed the merger, and the surviving public entity carries the BOXABL name and BXBL ticker on Nasdaq.
The span between the June 9 stockholder vote and the July 17 closing is common for transactions of this type. Regulatory filings and settlement steps routinely add weeks between shareholder approval and a formal close date.
What $3.5 billion represents
Three and a half billion dollars is the deal valuation: the agreed-upon price assigned to the combined business at the moment of closing. It is worth keeping that number separate from a market capitalization, which buyers and sellers set in real time through continuous trading. Those are two different measurements. The deal valuation is a negotiated figure; the market cap is whatever the stock market says it is. BXBL will have a market cap of its own when trading opens on Nasdaq on July 20, 2026.
What opens on July 20
Factory-built housing sits between traditional stick-built homebuilding and modular construction: homes or home components assembled in a factory environment and delivered to the site. BOXABL Inc. is the Las Vegas-based company entering the public market under that description, at a stated deal valuation of $3.5 billion. The first BXBL print on Nasdaq will be the number the market assigns.