Boxabl, a pre-fab, modular housing concept that has generated some solid traction on the market, closed its Reg A+ securities offering on StartEngine last Friday. The offering was simultaneously listed on Republic.
According to the Reg CF offering page, Boxabl closed at over $24 million on StartEngine – along with an additional $1.167 million on Republic. The company quickly pivoted to a Reg CF securities offering which raised $3 million within hours of launch and soon after hit its $3.6 funding cap. Boxabl is now taking names for a waiting list if an opportunity opens up for investors.
The Reg CF listing was offered at a pre-money valuation of $3.36 billion. The Reg A+ offering was pitched at a valuation of $3 billion – but there are a lot of moving parts to this funding round as Boxable was seeking over $1 billion in total funding, which includes $500 million in debt ($500m Reg D equity, $500m debt, $68.5M Reg A+). We believe a portion of the Reg A+ was channeled through broker-dealers.
Boxabl reports that it has raised $168 million to date, including $34 million from 14.9K+ StartEngine investors.
Boxable shares that it is the second largest securities offering ever to have taken place on StartEngine – the first being the platform’s own funding.
Boxable already has orders in the queue – approximately 100,000, including a contract with the US government. Boxabl product is said to be shipping every day and another factory is in the works. The company generated significant interest when it was rumored that Elon Musk was a fan (and perhaps a user). Boxabl shares that Musk called their “casitas” cool – via Twitter.
Boxabl Founder Galiano Tiramani is of the belief that his company can change housing on a scale the world has never seen.
https://twitter.com/BOXABL/status/1548044716133851144?s=20&t=gtDVHz4cZKSSkBN27dDoEw
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