BOXABL preferred investors: are people understanding what this SPAC structure actually means?

NOTE: I'm reposting to this community since the Founder of BOXABL removed my post in that sub. I’m a crowdfunding preferred shareholder [of BOXABL, BOXB / FGMC] trying to sanity-check the economics here. Let’s use a simplified example: Assume you own 10,000 BOXABL preferred shares Assume internal economic value = $0.80/share Total economic value = $8,000 Merger reference price = $10/share So your public-equivalent math becomes: 10,000 × $0.80 = $8,000 Then: $8,000 ÷ $10 = 800 BXBL shares Not 10,