BOXABL Appoints New CTO as SPAC Merger Targets Factory-Built Housing Scale

BOXABL Inc., a Las Vegas-based technology construction company, is moving forward with plans to scale factory-built housing as it advances a merger with FG Merger II Corp. The company, which has already produced more than 800 housing units from its manufacturing facility, has appointed technology executive Shan Palaniappan as chief technology officer to bolster automation, software and artificial intelligence capabilities.

The proposed merger with FG Merger II Corp. is expected to result in the combined company trading under the ticker Nasdaq: BXBL. BOXABL’s approach applies manufacturing principles common in the automotive and consumer electronics industries to residential construction, a sector traditionally characterized by fragmented, on-site building methods.

BOXABL’s modular system is designed for scalable deployment across multiple market segments, including single-family homes, multifamily housing, workforce accommodations and hospitality projects. The company’s foldable residential units can be transported on standard trailers and assembled quickly on-site, potentially reducing construction time and costs.

Management sees long-term opportunity in combining home production with recurring service revenues tied to financing, insurance and maintenance. This strategy aims to shift homebuilding away from fragmented, project-based work toward a more integrated, factory-driven model.

“BOXABL is attempting to apply manufacturing principles more commonly associated with the automotive and consumer electronics industries to one of the least standardized sectors of the American economy: residential construction,” the company stated in its announcement.

The appointment of Shan Palaniappan as CTO signals a focus on expanding automation and AI across operations. Palaniappan’s background in technology is expected to help the company scale its production while maintaining quality and efficiency.

BOXABL’s pursuit of a public listing through a SPAC merger comes amid ongoing challenges in the U.S. housing market, including a persistent shortage of affordable homes. Factory-built housing has gained attention as a potential solution to increase supply and reduce costs.

The company’s forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, highlight risks and uncertainties that could affect actual results. These include factors beyond management’s control, as detailed in the company’s filings with the SEC. Undue reliance should not be placed on forward-looking statements.

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