Company: FGMCU
Filing Date: 2025-10-27
Form Type: 425
Source: 0001104659-25-102245
Chunk: 1

Company: FG Merger II Corp.
Filing Date: 2025-10-27
Form: 425
Chunk 1
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 the moon.”

The Tiramanis are already positioned for a massive paper windfall upon
the closing of a pending deal with a special purpose acquisition company, which values Boxabl at $3.5 billion. The father-son duo currently
own 99.8% of the company’s stock.

Read More: SPAC Deals Are Back in Fashion, and MAGA Is Fueling Their
Growth

It’s an extraordinarily high price tag for the eight-year- old
business, which reported a $41.1 million net loss for the first six months of this year and had only ever delivered 270 of its pre-built
homes as of June 30, according to a filing. Tiramani says that a federal-level framework for approving modular units would make the business
worth even more. “As far as federal approval for modular housing, I would hope that Trump would put an executive order in to put
pressure, and then he would go with Congress to pass a law,” he said. “If it wasn’t for the regulation, I would have
billions in revenue right now.”

The ‘Casita’

Las Vegas-based Boxabl is the brainchild of 65-year-old Paolo, a mechanical
engineer, and his son, whose biography page on the company’s registration statement describes him as a “serial entrepreneur.”

Galiano’s first venture was a Bitcoin exchange business. “That’s
where I got rich,” he said. “I took all my assets, every dime,” and “bought in at $2,000.” His next project
was a marijuana farm and hash oil production facility in Northern California. “Imagine a high school chemistry lab,” Tiramani
said. “We were producing these concentrates. Totally wild, crazy stuff. Borderline illegal, whatever.”

Their current business — which they started with $2 million of
their own money in 2017 — is based in a sprawling 400,000- square-foot (37,161-square-meter) warehouse about 10 miles northeast
of the Las Vegas Strip. Boxabl builds the modular homes in its factory, then packs them into shipping containers and reassembles the dwellings
on-site in less than a day. Its flagship product, a 361-square-foot unit called the “Casita,” retails for about $60,000 and
comes with a full-size refrigerator, six-foot windows and room for a king-size bed. The company got a boost in 2021 when Elon Musk said
in an