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- Boxabl, a closely held company that's started a preferred stock offering, is popping up in the news on reports that multi-billionaire Elon Musk is living in one of the firm's $50K prefab homes on SpaceX property in Texas.
- The company was founded by industrial designer and engineer Paolo Tiramani, who is currently its CEO and majority shareholder, according to Wikipedia.
- In January, Boxabl filed a preliminary prospectus to offer almost 62.7M shares of non-voting series A-1 preferred stock and up to 3.57M shares of non-voting series A preferred stock. The preferred stock may be convertible into common stock if the company conducts an IPO.
- So far, the company has raised $16M from the offering and is targeting $50M, said Galiano Tiramani, Paolo's son and co-founder of Boxabl, in an email to Seeking Alpha.
- The company plans to use proceeds to build out its manufacturing space, buy capital equipment, and raw materials to deliver on placed orders as they arrive. (Updated at 4:37 PM ET).
- Benzinga picked up on the Boxabl/Musk connection and posted a story today, though it appears to be based on a tweet from June 9, in which Musk says his primary home is "literally a ~$50k house" in Starbase, TX, that he rents from SpaceX.
- Boxabl houses are prefabricated, foldable houses that set up in a day. The Casita model, which is reportedly the type that Musk lives in, has a kitchen, bathroom and a 19.5-ft x 19.5-ft living area, according to the company's website.
- That would fit with Musk's environmental concerns. In May, Musk's Tesla suspended vehicle purchases using bitcoin due to concern over bitcoin miners' use of fossil fuels. Almost two weeks ago, he said the EV maker would accept bitcoin when there's confirmation of "reasonable (~50%) clean energy usage by miners."
- Musk did say he still owns an “events” house in the Bay Area.
Boxabl pops up in Elon Musk-related news, and it's selling preferred stock (updated)
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Boxabl, a closely held company that's started a preferred stock offering, is popping up in the news on reports that multi-billionaire Elon Musk is living in one of the firm's $50K prefab homes on SpaceX property in Texas. The company was founded by industrial designer and engineer Paolo Tiramani, who is currently its CEO and majority shareholder, a...
