MergerMay 13, 2026, 04:42 PM
FG Merger II Corp. Amends BOXABL Merger Lock-Up Terms
AI Summary
FG Merger II Corp. (FGMC) entered into a Third Amendment to its Agreement and Plan of Merger with BOXABL Inc. and FG Merger Sub II Inc. on May 6, 2026. This amendment revises the lock-up agreements for both Company and Sponsor shares. The new terms specify conditions for the release of shares, including price targets and timeframes, and outline conditions for early termination of the lock-up periods.
Key Highlights
- FG Merger II Corp. and BOXABL Inc. entered into a Third Amendment to their merger agreement on May 6, 2026.
- Revised Company Lock-Up: 50% of shares released at 6 months if Surviving Pubco Common Shares reach $12.00+.
- Company Lock-Up: Any remaining shares released at 13 months, irrespective of price.
- Company Lock-Up: Early termination if share price meets or exceeds $20.00+.
- Revised Sponsor Lock-Up: 50% of shares released at earlier of 12 months or if price reaches $12.00+.
- Sponsor Lock-Up: Remaining 50% of shares released at 12 months.
- Sponsor Lock-Up: Early termination if Acquiror Common Stock trades at or above $20.00+.
Price Impact
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