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BOXABL Inc. entered into a Product Purchase Agreement with LC Vegas Acquisitions, LLC to sell up to 1,580 new…
FGMCRBOXABL Inc.
BOXABL Inc. entered into a Product Purchase Agreement with LC Vegas Acquisitions, LLC to sell up to 1,580 new three-bedroom ranch homes over three years. The aggregate potential value is approximately $233 million, subject to final engineering and material selections. Purchases must occur in batches of 50 units. BOXABL will handle engineering, design, mechanicals, plumbing, electrical, state approvals, and project management oversight. LC Vegas Acquisitions is responsible for site development, local permits, installation, zoning, utilities, interior finishes, roofing, cladding, and carports. The buyer paid $100,000 upfront for engineering and design work. An amendment provides stock incentives: BOXABL will issue Class A Common Stock valued at $1 million, $2 million, or $3 million based on deposit amounts of $10–$19.9 million, $20–$29.9 million, or $30 million or more, respectively. The agreement is terminable by the buyer upon written notice. BOXABL Inc. operates in the modular housing and construction industry.