MergerJun 8, 2026, 04:12 PM
FG Merger II: 6.6M Shares Redeemed for $68.8M; $14M Remains for BOXABL Merger
AI Summary
FG Merger II Corp. announced that the deadline for public stockholders to exercise redemption rights for its business combination with BOXABL Inc. passed on June 5, 2026. Approximately 6.6 million shares were tendered for redemption, resulting in $68.8 million being removed from the trust account. Following these redemptions, $14 million remains in the trust account, and 1.38 million public shares are outstanding. A special meeting is scheduled for June 9, 2026, for stockholders to vote on the proposed merger, with the board recommending approval.
Key Highlights
- Redemption deadline for BOXABL business combination occurred on June 5, 2026.
- Approximately 6,615,950 shares of FGMC common stock were tendered for redemption.
- This resulted in approximately $68.8 million being removed from the trust account.
- Following redemptions, 1,384,050 public shares of common stock remain outstanding.
- Approximately $14 million will remain in FGMC’s trust account.
- A special meeting is scheduled for June 9, 2026, to vote on the business combination.
- Stockholders can reverse redemption requests prior to the closing of the business combination.
- Post-merger, FGMC will be renamed BOXABL, Inc. and re-list as "BXBL" on Nasdaq.
Price Impact
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