Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 398

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 398
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 transaction.

The foregoing description of the Sponsor Support Agreement, Company Support Agreement, Company Lock-Up Agreements, and Sponsor Lock-Up Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the Sponsor Support Agreement, Company Support Agreement, Company Lock-Up Agreements, and Sponsor Lock-Up Agreement, respectively, copies of which are attached as Exhibits 10.23, 10.24, 10.25, and 10.26 to this Quarterly Report on Form 10-Q, respectively, and incorporated herein by reference.

Trend Information

To date through August 19, 2025, we have manufactured 744 Casitas and have completed deliveries of 285 Casitas in 6 states, including Arizona, Nevada, California, Oklahoma, Utah, and Hawaii. BOXABL has remaining customer deposits of $3.3 million from 9,350 potential customers ranging from $100 to $5,000. BOXABL also started accepting $200 non-refundable pre-order fees in January 2025 to be added to the priority list for the Baby Box as discussed below.

BOXABL has been developing an expanded product line, which includes a variety of sizes and configurations that extend beyond our existing Casita model. The growing interest expressed by various external stakeholders including property developers and homebuilders have prompted us to explore additional sales channels. In January 2025, we announced the launch of prototypes of our Next Generation Products.

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This includes the Baby Box, a 120 sq ft compact living space, towable trailer, built to RV Standard NFPA 1192 and our Phase 2 Modular Building System, comprising Boxes (modules) of varying dimensions that stack and/or connect allowing a system where homebuilder customers are able to customize the Boxes to build different building types and floorplans. We plan on beginning production of this product line manually with low capital investment to start.

For Phase 2 modular, we have been prototyping the production over the past few months and built two model homes in our Factory. This product will eventually need a new production line. We have developed various manufacturing concepts to manufacture this product in the future. We expect the design and development changes to be completed within 2025 and will focus design and manufacturing efforts based on the orders from developers for specific floorplans/models within the product offering. Manufacturing changes will be completed in parallel to the designs for initial manufacturing launch, which we expect to occur within the first half of 2026, subject