At a glance
- Company
- BOXABL Inc.
- Ticker
- NASDAQ: BXBL
Key figures
- Maximum contemplated homes
- up to 1,500
- Agreement term
- three years
- Expected annual purchases
- approximately 500 homes annually
- Casita floor area
- 361-square-foot
- Baby Box floor area
- 120-square-foot
Products and programs
BOXABL (NASDAQ: BXBL) announced a multiyear purchase agreement with LC Vegas Acquisitions, LLC contemplating the purchase of up to 1,500 BOXABL homes over three years, representing the company largest announced residential purchase arrangement to date. Purchases are expected to occur in phases at approximately 500 homes annually, subject to project schedules, site readiness, regulatory approvals and other conditions. The agreement does not require any purchases to be made and contemplated units may be modified, delayed, reduced or terminated under its terms.
To view the full press release, visit https://ibn.fm/KOlTq
About BOXABL
BOXABL Inc. is transforming the housing market with its modular building systems designed to deliver affordable, high-quality homes at unprecedented speed. Founded in 2017, BOXABL’s innovative approach has attracted worldwide attention as it aims to solve housing challenges for individuals and communities alike. BOXABL’S flagship product, the Casita, is a 361-square-foot studio unit with a full kitchen, bathroom, and utilities. The Casita unfolds on-site in less than an hour and is manufactured inside BOXABL’s facilities. BOXABL also has announced the Baby Box, a smaller 120-square-foot unit built to RV code, intended for simpler, no foundation setups. BOXABL is also developing stackable and connectable box models that can be combined to form townhomes, multifamily units, or larger single-family homes.
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The latest news and updates relating to BXBL are available in the company’s newsroom at https://ibn.fm/BXBL
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Questions around this news
What does the BOXABL agreement with LC Vegas Acquisitions cover?
The multiyear agreement contemplates purchases of up to 1,500 homes over three years. The release describes it as the company’s largest announced residential purchase arrangement to date, but says it does not obligate LC Vegas Acquisitions to make any purchases. Units may also be modified, delayed, reduced or terminated under the agreement’s terms.
What does “up to” mean in a purchase agreement?
“Up to” sets a maximum quantity contemplated by an agreement; it does not, by itself, establish a minimum purchase. Whether any purchases are required depends on the agreement’s specific terms and conditions. In this release, the company says no purchases are required and that units may be changed or discontinued under the agreement.
What is a modular building system?
A modular building system uses components or sections manufactured away from their final site, then transported and assembled or installed there. The degree of factory completion, transport method and site work vary by system. Modular construction can be used for different building types and does not necessarily mean every project follows the same design or process.
