BOXABL signs letter of intent with Warp Speed Holdings to introduce new home financing options

Proposed joint venture with a lender with more than $2 billion in assets under management aims to expand construction financing options and support home sales, targeting an early 2027 launch

LAS VEGAS, Nov. 10, 2026 /PRNewswire/ -- BOXABL Inc. (Nasdaq: BXBL), an innovative technology company transforming the housing market with its modular building systems, today announced it has signed a nonbinding letter of intent to form a mortgage lending joint venture with Warp Speed Holdings, an established institutional lending partner.

Warp Speed Holdings brings experience in mortgage origination, construction financing, capital markets and portfolio lending with more than $2 billion in assets across its businesses and affiliates.

Why it matters: Financing can be a significant obstacle for buyers of factory-built and modular homes. Traditional mortgage programs are often built around site-built construction and may not fit accessory dwelling units (ADUs), land purchases, site preparation or the stages of factory production and installation.

Cost and financing are among the top barriers named by homeowners. In a Los Angeles County survey of homeowners who had already built ADUs, 58% said obtaining financing was an obstacle. None reported securing a bank construction loan. Most relied on refinancing (73%), cash (50%), or both — owners could use more than one source. In another regional survey, 51% of respondents named construction cost or financing as a leading obstacle to adding an ADU. A 2021 University of California, Berkeley survey of California ADU owners, cited in a 2022 Terner Center for Housing Innovation paper, similarly found heavy use of cash and home equity products among owners who succeeded in building.

Even with financing challenges, the ADU market has seen significant growth. For instance, data reported to the California Department of Housing and Community Development identifies that California jurisdictions issued about 9,000 ADU permits in 2018 compared to roughly 42,000 in 2025. An alternate count that removes duplicate records puts 2025 nearer 32,000, which still represents significant growth.

The proposed venture would build financing into BOXABL's purchase process, part of the company's previously announced vertical integration strategy. BOXABL believes the initiative could help turn more prospective buyers into qualified purchasers, reduce financing-related delays and support increased home sales.

The letter of intent builds on BOXABL's mergers, acquisitions and partnerships initiative, announced in August, which named lending and finance providers built for factory-built housing among the partners the company was seeking.

Key details: Subject to definitive agreements and regulatory requirements, the proposed platform is expected to offer:

• Multiple construction loan options, subject to product development, geographic availability, underwriting and approvals.
  
  
• Earlier financing in the BOXABL purchase process, so customers can better understand their borrowing capacity, estimated payments and financing options before they buy.
  
  
• Tailored structures, including construction-to-permanent loans, intended to cover land purchase, site improvements, manufacturing, delivery, installation and permanent mortgage financing, as applicable.
  
  
• Rate buydowns for buyers.
  
  
• Financing for a range of customers, potentially including homeowners adding a Casita as an ADU, buyers building a primary residence, investors, builders and developers.

The opportunity: The venture is also intended to build a financial services business that could grow alongside BOXABL's housing operations. The proposed model would pursue both mortgage origination revenue and portfolio lending income from retaining selected qualifying loans, subject to capital availability and risk management. Actual performance and returns will depend on market conditions, funding costs, credit performance, transaction structure and execution.

"Financing can be one of the hardest parts of buying a factory-built home, and we want to make it as simple as building one," said Galiano Tiramani, co-founder and co-CEO of BOXABL. "Bringing financing into the BOXABL buying process, with multiple loan options planned, is the next step in our vertical integration strategy."

What's next: BOXABL expects to announce a definitive agreement with Warp Speed Holdings, with details on the structure, financing products and rollout, in the coming weeks, subject to completing negotiations. The companies are targeting a launch in early 2027, initially focused on financing within BOXABL's purchase process and construction lending programs.

No definitive joint venture agreement has been announced, and there can be no assurance the transaction will be completed on the proposed terms or timetable.

About Warp Speed Holdings

Warp Speed Holdings is a diversified holding company with 24+ businesses and affiliates spanning Lending, Technology & AI, Insurance, Real Estate Development, Title & Escrow, Accounting & Tax, Recruiting & Staffing, Marketing, Service Providers, and more. They drive innovation through strategic partnerships and acquisitions.

About BOXABL

Since its founding in 2017, BOXABL has raised more than $230 million from more than 50,000 investors. The North Las Vegas-based company is working to transform the housing industry through innovative technology and design, with a mission of making housing affordable at mass-production scale. BOXABL's flagship product, the Casita, is a 361-square-foot studio unit with a full kitchen, bathroom and utilities that unfolds on-site in under an hour. The company also offers the smaller, 120-square-foot Baby Box and is developing stackable and connectable modules designed to form townhomes, multifamily units and larger single-family homes. BOXABL began trading on the Nasdaq Stock Market under the ticker symbol "BXBL" on July 20, 2026, following completion of its business combination with FG Merger II Corp.

This communication includes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may be identified by words such as "plan," "project," "will," "estimate," "intend," "expect," "believe," "target," "continue," "could," "may," "might," "possible," "potential" or "predict" or similar expressions that predict or indicate future events or trends or that are not statements of historical fact. These statements are based on current expectations and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially, including those related to the completion of definitive agreements for the proposed mortgage joint venture; the expected timing of its launch; the availability of any particular loan program; applicable licensing and regulatory requirements; the expected effects of the venture on BOXABL's home sales; the financial performance of the venture; state and local regulatory and site approvals, and BOXABL's financial condition and liquidity, as well as the other risks described in BOXABL's filings with the U.S. Securities and Exchange Commission. BOXABL undertakes no obligation to update these statements except as required by law.

For more information about BOXABL and its innovative products, visit www.boxabl.com.

SOURCE Boxabl