Company: FGMCU
Filing Date: 2025-09-18
Form Type: S-4
Source: 0001104659-25-091249
Chunk: 393

Company: FG Merger II Corp.
Filing Date: 2025-09-18
Form: S-4
Chunk 393
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ita production levels and restructured the team at our facilities. As of June 30, 2025, our facilities have approximately 119 employees (down from 167 employees at December 31, 2024) due to workforce reductions that took place in January 2025 in line with BOXABL’s initiatives to align production with product deliveries. BOXABL provides employees a share incentive plan to be awarded at the discretion of the Board of Directors (the “Board”).

BOXABL made several pivotal hirings in 2023 and 2024. These changes were made with the intention of upskilling the team. The most notable addition was the October 2023 hiring of Chief Financial Officer, Martin Costas, who started his career in public accounting with PwC, where he contributed to more than 100 audits, consulting and advisory engagements including capital markets engagements; and comes to BOXABL with vast CFO experience leading the finance function in companies such as Honeywell, SLB (former Schlumberger), Sysco and Nexans. During his career, Martin worked with companies in their early maturity stages and contributed to their development, including complex IPO and M&A processes.

In addition, BOXABL has made key hires across several departments. The sales team was strengthened with a business development lead and managers, while the engineering department was expanded with design and manufacturing engineers. The compliance team grew with a building code inspector and permits & licensing manager, and the quality assurance (“QA”) team added a QA engineer and inspectors. The government relations team was created with the addition of a new assistant and lead. BOXABL also strengthened its finance team with the hirings of a seasoned corporate controller, staff accountant, senior accountant, and MIS analyst, along with experienced operations managers. Supporting roles were added across manufacturing and office functions.

In 2024, BOXABL also focused heavily on talent acquisition to assist with overall sales and growth operations. BOXABL’s business development organization, which is comprised of the sales, marketing, social media, customer service, government relations, and investor relations departments has expanded significantly and is currently comprised of 14 head count, which contribute to drive BOXABL’s sales growth.

Systems

BOXABL has invested significant resources into modernizing its tech stack, including market-leading systems that improve operational efficiency in areas such as: accounting, spend management, inventory control, sales, customer relations, investor relations, and human resources. The investment into these systems aims to generate enterprise-wide transparency and support BOXABL’s internal controls.

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