BOXABL Announces New Contracts: 51-Unit Deal With Grace Bible Church-Rialto and 20-Unit Contract With Gateway Christian via Innovate ADU, Strengthening Its Market Penetration With Faith-Based Organizations Amid Growing YIGBY Movement

LAS VEGAS, Oct. 14, 2025 /PRNewswire/ -- BOXABL Inc., a pioneering leader in revolutionary modular housing solutions, which is currently in a S-4 registration process for its previously announced merger with FG Merger II Corp. (NASDAQ: FGMC), proudly announces two new contracts with Innovate ADU, one of its preferred builders in California. These include a 51-unit agreement with Grace Bible Church-Rialto and a 20-unit contract with Gateway Christian in San Bernardino, California, marking significant milestones in its rapidly expanding opportunity with faith-based development projects.

These contracts follow other 2025 deals through the BOXABL installer program, including partnerships with Bethel AME Church of Fontana (27 units), Hope to Change in San Bernardino (12 units), and Catholic Charities of the Archdiocese of Oklahoma City's Caritas Casitas project in Oklahoma (12 units), bringing the total value of closed contracts in the faith-based vertical to 122 units, worth approximately $7 million this year. The Caritas Casitas project, a 12-unit pocket neighborhood in Oklahoma City, is expected to see residents move in by October 2025, providing affordable housing for emergency voucher holders and women transitioning from homelessness. The California projects leverage California's Affordable Housing on Faith Lands Act (SB4), which streamlines zoning for faith-based housing developments, and similar policies in other states. The BOXABL installer program's expertise in regulatory navigation and project coordination has been pivotal in securing and executing these contracts.

"As Chief Financial Officer, I'm thrilled to see our faith-based vertical strategy gaining momentum, with projects like Grace Bible Church-Rialto and Gateway Christian," said Martin Costas, CFO of BOXABL. "By supplying Casita homes to faith-based organizations, we're helping address post-COVID challenges like declining congregations and revenues. Our homes enable these institutions to generate income, access grant funding, and increase property values while serving vulnerable populations like veterans, seniors, and those experiencing homelessness."

The faith-based vertical is a growing piece of BOXABL's strategy to address the global housing crisis. Faith-based organizations face reduced donations and membership, leading some to cut programs or close. BOXABL's 361-square-foot Casita units, equipped with a kitchen, bathroom, bedroom, and living area, transform underutilized land into vibrant housing communities. These projects attract grant funding, enhance property values, and boost visibility, potentially growing congregations.

The Yes In God's Backyard (YIGBY) movement, fueled by favorable legislations, amplifies this opportunity. According to the Tener Center at UC Berkeley, California's SB4 unlocks 171,000 acres of faith-owned land, potentially supporting 342,000–500,000 affordable housing units across 3,000–6,000 faith-based organizations. It is estimated by the Partnership for Strong Communities at UC Berkeley, that thousands of faith-based organizations control land capable of supporting over 800,000 homes across the nation. Similar laws in Washington, Maryland, Virginia, and Hawaii streamline development.

A recent example is the Oklahoma City's Caritas Casitas, where 12 Casita units, facilitated by BOXABL, will provide affordable housing:

BOXABL is launching a nationwide marketing campaign to engage more faith-based organizations and nonprofits, particularly in states with YIGBY policies. The company invites faith-based organizations, developers, and funding partners to explore collaboration opportunities at www.boxabl.com. Investors can learn more at invest.boxabl.com.

About BOXABL

BOXABL is a Las Vegas-based technology company revolutionizing housing through innovative modular construction. With over $230 million raised from more than 50,000 investors, BOXABL is preparing to go public via a merger with FG Merger II Corp. (Nasdaq: FGMC) under the ticker symbol BXBL. Its patented technology delivers high-quality, affordable homes at scale, addressing the global housing crisis. For more information, visit www.boxabl.com.

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This press release 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 regarding the value of autonomous driving solutions; 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.

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An investment in FGMC is not an investment in any of our 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 will be set forth in proxy statement/prospectus when it is filed by FGMC and BOXABL with the SEC. You can find more information about FGMC's directors and executive officers in FGMC's final prospectus related to its initial public offering filed with the SEC on January 29, 2025 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 April 14, 2025. 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.

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SOURCE Boxabl