America's Housing Crisis Fuels Demand for Affordable, Factory-Built Home Innovation

AUSTIN, Texas, June 01, 2026 (GLOBE NEWSWIRE) -- AINewsWire Editorial Coverage: The United States housing market is facing a growing affordability and supply crisis that traditional construction methods have struggled to solve. Housing inventory remains tight across much of the country, while rising mortgage rates, labor shortages and increasing construction costs continue pushing homeownership out of reach for many Americans. Millions of homes are still needed to meet current demand, and the shortage is affecting not only major cities but suburban and rural communities as well. As affordability pressures intensify, interest is growing in faster, more scalable alternatives to conventional homebuilding. Factory-built and modular-housing models are increasingly being viewed as part of the solution because they can reduce construction time and improve efficiency. Against this backdrop, BOXABL (profile) has emerged with a mission focused on producing foldable, factory-built homes designed to ship nearly anywhere and unpack quickly on-site. The company, which has signed a definitive merger agreement with FG Merger II Corp. (NASDAQ:FGMC), is positioning itself at the intersection of housing innovation, advanced manufacturing and scalable residential development. As demand for affordable housing solutions continues to rise, BOXABL's approach reflects a broader shift toward modernizing how homes are built and delivered. The company joins an impressive group of savvy companies focused on advancing large-scale automation, artificial intelligence and next-generation manufacturing systems, including Tesla Inc. (NASDAQ:TSLA), NVIDIA Corporation (NASDAQ:NVDA), Amazon.com Inc. (NASDAQ:AMZN) and Honeywell International Inc. (NASDAQ:HON).

• Housing supply constraints in the United States have reached levels that many economists describe as structurally unsustainable.
• A significant recent development for BOXABL and FG Merger II Corp. came when the U.S. Securities and Exchange Commission ("SEC") declared effective the companies' joint registration statement on Form S-4 tied to their proposed business combination.
• BOXABL's growth story has attracted notable investor attention; the company has raised more than $200 million from 50,000-plus investors since 2020. 
• BOXABL's operating model is built around the idea that homes can be manufactured more efficiently through factory-based production systems rather than relying exclusively on fragmented, site-based construction processes.
• Automation and artificial intelligence are becoming increasingly important components of advanced manufacturing operations, and BOXABL is integrating these technologies into its factory systems to improve efficiency and scalability.
  
  

America's Housing Gap Continues Growing

Housing supply constraints in the United States have reached levels that many economists describe as structurally unsustainable. According to a 2026 housing supply gap report, the United States entered 2026 with an estimated shortage of approximately 4.03 million homes, reflecting years of underbuilding relative to household formation. The report noted that housing construction activity is failing to keep pace with demand, worsening affordability challenges across multiple demographics and regions. At the same time, high borrowing costs and elevated home prices have continued to pressure both buyers and renters nationwide.

The broader economic implications of the housing shortage are substantial. The U.S. Chamber of Commerce has stated that the nation faced a shortage exceeding 4.7 million homes, warning that the imbalance was contributing to reduced workforce mobility, rising housing costs and broader economic strain. Meanwhile, the median existing-home price in the United States climbed to a record $417,700 in April 2026, despite relatively sluggish sales activity, underscoring the ongoing disconnect between supply and affordability. Housing inventory remains below prepandemic norms in many regions, while elevated borrowing costs continue to discourage buyers. For many prospective homeowners, particularly first-time buyers, affordability remains one of the largest barriers to entering the market.

Industry data further illustrates the scale of the opportunity tied to housing demand. Realtor.com estimated that approximately 1.36 million housing starts occurred while the country continued facing a supply deficit of more than four million units. When combined with median home prices around the $400,000 range, analysts estimate the total addressable demand for needed housing extends into the trillions of dollars. The shortage has also disproportionately impacted younger generations, with millions of potential Gen Z and millennial households reportedly unable to enter the housing market because of affordability pressures and limited inventory. 

Traditional construction approaches have struggled to close the gap quickly enough. Labor shortages, zoning challenges, material costs and lengthy build timelines continue to constrain the pace of development in many regions. Increasingly, factory-built and modular housing models are being discussed as potential solutions capable of accelerating production while reducing costs and construction complexity. That shift in attention has created growing interest in companies such as BOXABL, which is seeking to apply scalable manufacturing principles to the housing sector through foldable, factory-built homes designed for rapid deployment.

SEC Milestone Advances Proposed Combination

A significant recent development for BOXABL and FG Merger II Corp. came when the U.S. Securities and Exchange Commission declared effective the companies' joint registration statement on Form S-4, tied to their proposed business combination. According to SEC filings and company communications, the effectiveness notice was issued on May 12, 2026. The development represents a major procedural milestone in the proposed merger process and moves the transaction closer to completion.

The companies have announced that a special meeting of FGMC shareholders is scheduled for June 9, 2026, where shareholders will vote on the proposed transaction and related matters. If shareholders approve the merger and all remaining customary closing conditions are satisfied, the combined company is expected to begin trading on NASDAQ under the ticker symbol BXBL. Under the described terms, FGMC will continue as the surviving public company and be renamed BOXABL Inc., with existing FGMC stockholders retaining their shares as shares of the combined company.

The SEC effectiveness process is a key requirement in SPAC business combinations because it allows investors access to detailed disclosures regarding the transaction structure, risks, financial information and operational strategy of the combined company. BOXABL and FGMC have encouraged shareholders and interested parties to review the Form S-4 registration statement and associated proxy materials carefully through SEC filings and investor relations resources. These documents outline the mechanics of the proposed merger, ownership structure, risk factors and anticipated post-combination governance.

For BOXABL, the proposed NASDAQ listing could substantially increase visibility with institutional and retail investors while potentially expanding access to capital markets. Public-market access may also support the company's broader ambitions to scale production capacity, expand manufacturing operations and pursue additional growth opportunities within the housing sector. The transaction reflects a broader trend in which emerging manufacturing and technology-focused housing companies seek public listings to accelerate commercialization efforts amid rising demand for affordable housing solutions.

Investors Watching Housing Innovation Closely

BOXABL's growth story has attracted notable investor attention. According to the company, BOXABL has raised more than $200 million from 50,000-plus investors since 2020. This level of participation reflects significant public interest in alternative housing solutions as affordability challenges continue reshaping the residential real estate market. The scale of investor engagement also highlights growing awareness surrounding factory-built housing models and their potential long-term relevance.

Part of BOXABL's appeal stems from its attempt to rethink housing production using manufacturing principles commonly associated with the automotive industry. BOXABL's vision includes homes that could eventually be mass produced in highly automated factories and delivered efficiently to consumers. The company's foldable housing system is designed to reduce transportation complexity while enabling homes to be unpacked rapidly on-site, potentially shortening delivery timelines compared to conventional construction methods.

Consumer behavior trends may also support growing interest in more standardized housing solutions. Across industries, modern consumers increasingly prioritize convenience, faster delivery timelines and streamlined purchasing experiences. In many ways, BOXABL's approach attempts to align housing production with broader trends already seen in logistics, e-commerce and advanced manufacturing. Supporters of modular and factory-built housing argue that these systems could eventually improve scalability, consistency and affordability relative to traditional site-built construction.

Factory Production Reimagines Homebuilding Scale

BOXABL's operating model is built around the idea that homes can be manufactured more efficiently through factory-based production systems rather than relying exclusively on fragmented, site-based construction processes. Traditional homebuilding often involves lengthy timelines, multiple subcontractors, weather-related delays and inconsistent regional labor availability. By contrast, factory manufacturing seeks to centralize and standardize production in a more controlled environment. This manufacturing-oriented approach has increasingly gained attention as both developers and policymakers search for ways to expand housing supply more efficiently.

The company's modular housing system is designed to support multiple residential and commercial applications. BOXABL homes are engineered to fold for transport efficiency before being deployed and assembled on-site. The modular nature of the system potentially allows units to be used in a range of settings, including workforce housing, accessory dwelling units, multifamily developments, hospitality applications and emergency housing deployments.

BOXABL describes its housing system as built around "radically simplified engineering," designed to streamline construction while maintaining quality, efficiency and modern design aesthetics. BOXABL homes are engineered to support multiple configurations and floor plans, including studio, one-bedroom and two-bedroom layouts, while using standardized modular components that can stack and connect into larger residential developments.

The company also emphasizes upscale interior finishes and modern exterior styling, highlighting features such as high ceilings, large windows, full-sized appliances, premium cabinetry and contemporary design elements intended to create a spacious, high-quality living experience. BOXABL states that its factory-built approach combines scalable manufacturing with attractive, customizable housing options designed for both affordability and modern consumer appeal. 

Scalability remains central to the broader modular housing thesis. Industry observers have argued that standardization and repeatable production processes could help reduce waste, improve quality consistency and shorten build timelines. Factory-built construction also enables year-round manufacturing activity that is less exposed to weather disruptions. These characteristics have contributed to growing interest in modular housing systems as part of the broader effort to address persistent supply shortages nationwide.

BOXABL's long-term strategy appears focused not only on producing homes but also on establishing manufacturing infrastructure capable of supporting large-scale deployment. As housing demand continues outpacing supply in many regions, companies capable of increasing production throughput while maintaining cost discipline may attract increasing attention from developers, municipalities and investors seeking scalable solutions. The company's emphasis on factory-based efficiency reflects broader industrial trends that are increasingly influencing the future direction of residential construction.

Automation and AI Drive Manufacturing Efficiency

Automation and artificial intelligence are becoming increasingly important components of advanced manufacturing operations, and BOXABL is integrating these technologies into its factory systems to improve efficiency and scalability. Manufacturing automation can help reduce production bottlenecks, improve quality control and increase throughput consistency, particularly in high-volume environments. For housing manufacturers, these efficiencies may prove critical as companies attempt to address large-scale supply shortages while managing labor constraints and cost pressures.

AI-enabled production systems also have the potential to improve operational performance through predictive maintenance, defect reduction and workflow optimization. As manufacturing facilities become increasingly digitized, companies are leveraging data analytics and automation tools to improve production planning and resource allocation. BOXABL's emphasis on technology integration reflects a broader shift toward industrialized construction processes that blend manufacturing discipline with housing development.

Beyond home production itself, the company has also discussed opportunities tied to complementary service offerings associated with housing ownership and occupancy. BOXABL's broader business model includes potential additional revenue streams related to financing. These higher-margin service opportunities could potentially create recurring revenue channels alongside home manufacturing operations.

The convergence of housing demand, manufacturing automation and AI-driven operational systems is helping reshape how some companies approach residential construction. While factory-built housing still represents a relatively small share of the broader housing market, interest in scalable alternatives continues growing as affordability pressures intensify nationwide. BOXABL's strategy reflects an effort to position itself within that evolving landscape by combining modular housing, automated manufacturing and service-based business opportunities into a unified housing platform designed for long-term scalability

AI Manufacturing Enters Industrial Scale

The convergence of artificial intelligence, robotics and advanced manufacturing is reshaping how industrial systems are designed, operated and scaled. Across the sector, companies are investing heavily in next-generation AI infrastructure, intelligent automation and high-performance production technologies aimed at improving efficiency, enabling real-time decision-making and supporting increasingly complex operational environments.

Tesla Inc. (NASDAQ:TSLA) discussed its focus on large-scale AI infrasctructure, robotics and next-gen production systems in its Q1 2026 shareholder update. The report noted architectural advances designed to help the company accelerate its efforts to eventually deploy unsupervised autonomy on both the Robotaxi fleet and customer-owned vehicles. "Digital Optimus represents the next evolution of our AI development," the report stated. "We are working on automating digital workloads, building an intelligence layer that will complement the real-world AI we have built to operate vehicles and humanoid robots." The company is also expanding its scope of manufacturing to include semiconductor fabrication, an important step to ensure sufficient and resilient chip supply.

NVIDIA Corporation (NASDAQ:NVDA) is reporting that AI factories built with NVIDIA Blackwell Ultra deliver up to 50x higher throughput per megawatt. According to the company, that leads to 35x lower cost per token, balancing performance, responsiveness and energy efficiency at scale. In addition, the NVIDIA Dynamo framework helps orchestrate long-context reasoning and massive inference throughput, keeping utilization high as workloads become more interactive and complex. "Together, they show how AI factory performance is now measured: by how efficiently a factory can produce intelligence in real time," the company states.

Amazon.com Inc. (NASDAQ:AMZN) has introduced a new agentic AI tool to help front-line employees as well as a robotics system to help expand same-day delivery. According to the company, it's latest advancements showcase how technology works together with employees to solve complex challenges, from delivery speed to food insecurity to sustainable AI. In Amazon's fulfulfillment centers across the country, new AI and robotics systems such as Blue Jay and Project Eluna are being deployed, with Blue Jay handling repetitive tasks and Project Eluna providing operational insights, both of which build safe and more efficient workflows for the company's front-line employees. In addition, AI-powered sustainability intitatives are reducing packing waste, supporting disaster response and advancing clean-enery solutions.

Honeywell International Inc. (NASDAQ:HON) has launched its Experion Operations Assistant. The AI-powered solution is designed to transform how industrial operators monitor plant performance, make critical decisions and respond to alarm incidents before they happen. The system is built on Honeywell's flagship distributed control system, Experion PKS, and merges historical data with real-time operational insights to allow operators to forecast and respond to potential critical scenarios associated with unsafe operations and production losses. The solution aims to bridge the gap between autonomous technologies and control room operators. The company reported that in its pilot phase, the AI-powered assistant made predictions an average of 5–10 minutes before alarm incidents would have happened, enabling operators to quickly implement corrective actions and avoid potential events.

These developments highlight a broader transformation underway across global industry, where AI-driven systems are becoming foundational to manufacturing, logistics, automation and infrastructure management. As organizations push toward greater autonomy, energy efficiency and scalable intelligence, the integration of advanced AI into industrial operations is poised to redefine productivity and competitiveness across the modern economy.

For more information, visit BOXABL.

Additional Information About the Proposed Transaction and Where to Find It

Additional information about the transaction, including a copy of the merger agreement has been filed by FGMC in a Current Report on Form 8-K with the U.S. Securities and Exchange Commission (the "SEC"). The proposed transaction has been submitted to shareholders of FGMC for their consideration. FGMC has filed a registration statement on Form S-4 (the "Registration Statement") with the SEC, which has been declared effective, and a prospectus pursuant to Rule 424(b) under the Securities Act (the "Prospectus"), which includes the definitive proxy statement distributed to FGMC's shareholders in connection with FGMC's solicitation of proxies for the vote by FGMC's shareholders in connection with the proposed transaction and other matters described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to BOXABL's shareholders in connection with the completion of the proposed transaction. The definitive proxy statement/prospectus and other relevant documents have been mailed to BOXABL stockholders and FGMC shareholders as of the record date established for voting on the proposed transaction. Before making any voting or investment decision, FGMC and BOXABL shareholders and other interested persons are advised to read the definitive proxy statement/prospectus, as well as other documents filed with the SEC by FGMC in connection with the proposed transaction, as these documents contain important information about FGMC, BOXABL and the proposed transaction. Shareholders may obtain a copy of the definitive proxy statement/prospectus, as well as other documents filed by FGMC with the SEC, without charge, at the SEC's website located at www.sec.gov or by directing a written request to FG Merger II Corp., 104 S. Walnut Street, Unit 1A, Itasca, Illinois 60143 or to BOXABL 5345 E North Belt Rd Las Vegas NV 89115.

Forward-Looking Statements

This communication includes "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements may be identified by the use of words such as "plan," "project," "will," "estimate," "intend," "expect," "believe," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. We have based these forward-looking statements on current expectations and projections about future events. These statements include: projections of market opportunity and market share; estimates of customer adoption rates and usage patterns; projections of development and commercialization costs and timelines; expectations regarding BOXABL's ability to execute its business model and the expected financial benefits of such model; expectations regarding BOXABL's ability to attract, retain, and expand its customer base; BOXABL's deployment of Casita; BOXABL's expectations concerning relationships with strategic partners, suppliers, governments, regulatory bodies and other third parties; future ventures or investments in companies, products, services, or technologies; development of favorable regulations and government incentives affecting BOXABL's markets; the potential benefits of the proposed transaction and expectations related to its terms and timing; and the potential for BOXABL to increase in value.

These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, many of which are beyond the control of BOXABL and FGMC.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such statements. Such risks and uncertainties include: that BOXABL is pursuing an emerging technology, faces significant technical challenges and may not achieve commercialization or market acceptance; BOXABL's historical net losses and limited operating history; BOXABL's expectations regarding future financial performance, capital requirements and unit economics; BOXABL's use and reporting of business and operational metrics; BOXABL's competitive landscape; BOXABL's dependence on members of its senior management and its ability to attract and retain qualified personnel; the capital requirements of BOXABL's business plans and the potential need for additional future financing; BOXABL's ability to manage growth and expand its operations; potential future acquisitions or investments in companies, products, services or technologies; BOXABL's reliance on strategic partners and other third parties; BOXABL's ability to maintain, protect and defend its intellectual property rights; risks associated with privacy, data protection or cybersecurity incidents and related regulations; the use and regulation of artificial intelligence and machine learning; uncertainty or changes with respect to laws and regulations; uncertainty or changes with respect to taxes, trade conditions and the macroeconomic environment; the combined company's ability to maintain internal control over financial reporting and operate a public company; the possibility that required regulatory approvals for the proposed transaction are delayed or are not obtained, which could adversely affect the combined company or the expected benefits of the proposed transaction; the risk that shareholders of FGMC could elect to have their shares redeemed, leaving the combined company with insufficient cash to execute its business plans; the occurrence of any event, change, or other circumstance that could give rise to the termination of the merger agreement; the outcome of any legal proceedings or government investigations that may be commenced against BOXABL or FGMC; failure to realize the anticipated benefits of the proposed transaction; the ability of FGMC or the combined company to issue equity or equity-linked securities in connection with the proposed transaction or in the future; and other factors described in FGMC's filings with the SEC. Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by BOXABL, FGMC or the combined company resulting from the proposed transaction with the SEC, including under the heading "Risk Factors." If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, these statements reflect the expectations, plans and forecasts of BOXABL's and FGMC's management as of the date of this communication; subsequent events and developments may cause their assessments to change. While BOXABL and FGMC may elect to update these forward-looking statements at some point in the future, they specifically disclaim any obligation to do so. Accordingly, undue reliance should not be placed upon these statements.

In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this communication, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.

An investment in FGMC is not an investment in any of its founders' or sponsors' past investments, companies or affiliated funds. The historical results of those investments are not indicative of future performance of FGMC, which may differ materially from the performance of our founders' or sponsors' past investments.

Participants in the Solicitation

FGMC, BOXABL and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from FGMC's shareholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of FGMC's and BOXABL's shareholders in connection with the proposed transaction as set forth in the joint proxy statement/prospectus filed by FGMC and BOXABL with the SEC. You can find more information about FGMC's directors and executive officers in FGMC's and BOXABL's joint proxy statement/prospectus dated May 12, 2026, and in periodic reports filed by FGMC with the SEC. You can find more information about BOXABL's directors and executive officers in its Annual Report on Form 10-K, filed with the SEC on March 27, 2026. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources described above.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This communication is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of the securities described herein in the United States or any other jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

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