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LAS VEGAS - Modular housing company Boxabl Inc. announced Friday it has received regulatory approval to deploy its units in South Carolina, enabling a new supply contract with Horizons Getaways for 150 of its Casita units.
The agreement with Horizons Getaways will begin with deployments in South Carolina before expanding to Tennessee, Texas, Florida, California, and Ohio, according to a press release statement.
Boxabl, which is currently in an S-4 registration process for its previously announced merger with FG Merger Corp. (NASDAQ:FGMC), will supply its 361-square-foot modular homes for Horizons’ cabin resort developments. FGMC, currently trading near $10 with a market capitalization of $106 million, shows strong liquidity with a current ratio of 2.23. According to InvestingPro analysis, the company maintains profitable operations despite trading at elevated multiples.
"This South Carolina approval and multi-state contract with Horizons Getaways solidify Boxabl’s leadership in the U.S. glamping market," said Martin Costas, CFO of Boxabl. InvestingPro data reveals FGMC maintains a ’FAIR’ overall financial health score, with particularly strong metrics in profitability and asset management. Subscribers can access 5 additional exclusive ProTips and detailed financial analysis for FGMC.
The Casita units are designed for rapid assembly and energy efficiency. They can be folded and transported by truck, which the company claims reduces construction waste by 90% and shortens installation time compared to traditional building methods.
Horizons Getaways plans to place these modular units in scenic, working-farm locations across multiple states, beginning with South Carolina’s Lowcountry and Upcountry regions. The resorts will feature amenities including spas with saunas, steam rooms, pools, and clubhouses.
The U.S. glamping market is valued at $831.5 million and is projected to reach $1.5 billion by 2030, according to data cited in the company’s announcement. With FGMC’s return on equity at 4.49% and stable price performance, investors can access comprehensive valuation metrics and industry comparisons through InvestingPro’s advanced analysis tools.
In other recent news, Boxabl Inc. and FG Merger II Corp. have filed a registration statement with the Securities and Exchange Commission for a proposed merger valued at approximately $3.5 billion. This merger is a significant step toward Boxabl becoming a publicly listed company, with the combined entity expected to trade under the ticker symbol "BXBL" on Nasdaq. In another development, Boxabl has acquired 10 bitcoin as part of its treasury reserve strategy, with each bitcoin purchased at an average price of approximately $107,800. This move aligns with the company’s strategy to hold part of its assets in bitcoin to hedge against inflation and diversify its portfolio. These recent developments highlight Boxabl’s strategic moves in expanding its financial and operational footprint.
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