Boxabl's Reg A filing shows what a retail offering discloses

The record

On 22 January 2021, Boxabl Inc., a Nevada manufactured-housing company, filed a Form 1-A offering statement with the SEC, publicly viewable on EDGAR under CIK 0001816937. The filing's Part II, the offering circular itself, states the offering was structured across two classes: Non-Voting Series A-1 Preferred Stock priced at $0.79 per share, offered up to $49,500,000, and Non-Voting Series A Preferred Stock priced at $0.14 per share, offered up to $500,000, for a combined stated maximum of $50,000,000, near the Tier 2 ceiling then in effect. Each share class converts to common stock, and the circular sets a $1,000 minimum investment.

What the sources establish

The circular's risk-factor section, as filed, discloses that Boxabl had operated at a loss since inception with no product-sales revenue, that it did not yet have a manufacturing facility built to the scale the business would need, and that it had accepted customer deposits for a product it was not yet able to produce at that scale. These are the company's own stated risks, not a regulator's assessment of them; the Commission's 2015 Regulation A release is the rule this filing operationalizes, requiring exactly this kind of risk disclosure and a qualified offering circular before any sale.

Scope and revision

The $50,000,000 figure in this filing is a stated maximum offering amount as of the January 2021 filing, not a reported amount raised; this record does not establish how much Boxabl actually sold, and the company's later 1-A amendments on EDGAR, filed through 2024, reflect a continuing offering that a reader would need to check separately for any updated terms. Boxabl's own risk disclosures apply to the company as it described itself on the filing date; a manufacturing-capacity risk disclosed in 2021 is not evidence of the company's status in any later year.

The decision in front of you

An investor or analyst using a Regulation A filing as a case study should read the specific circular, not a secondary description of it, and should treat the stated maximum as a ceiling the issuer set for itself, not a market's verdict on the company. This is editorial guidance about how to read the filing, not a view on Boxabl's prospects.

• Does a reported figure for this offering come from the filed circular, or from a later amendment or unrelated report?
• Which risks does the issuer disclose in its own words, and which are inferred by a secondary source?
• Has the offering been amended since this filing, and does a current EDGAR search reflect that?

A Regulation A offering circular is the issuer's own disclosure of its terms and risks, filed under a rule that requires exactly that disclosure before a single share is sold.