FG Merger Corp. (FGMCW) operates as a blank check company, or special purpose acquisition company (SPAC), whose principal business is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, with a focus on the financial services industry in North America. The company offers no current products or services beyond its SPAC structure, which provides public market access to target companies through de-SPAC transactions; its common stock trades on Nasdaq under FGMC, with warrants under FGMCW. Incorporated in 2020 as a Nevada corporation and headquartered in Itasca, Illinois, FG Merger Corp. conducts operations principally in the United States and previously completed a business combination with iCoreConnect Inc. in 2023, valued at $98 million, which listed the combined entity on Nasdaq under ICCT.
FG Merger II Corp., a related entity under the FG Merger umbrella and trading as FGMC/FGMCW, pursues similar SPAC activities and announced a definitive merger agreement with Boxabl Inc., a modular housing technology company, in August 2025, valuing Boxabl at $3.5 billion with plans to list the combined company as BXBL on Nasdaq. The transaction, which includes issuance of 350 million shares to Boxabl shareholders and no minimum cash condition, recently received an amendment in November 2025 extending the outside date from December 31, 2025, to March 31, 2026, pending shareholder and regulatory approvals; Boxabl has raised over $230 million from more than 50,000 investors to support its factory expansions and contracts for Casita modular units. These developments reflect FG Merger's ongoing strategy to identify and execute value-oriented combinations in sectors beyond financial services, including innovative construction technologies.