Boxlight Corporation Announces Initial Closing of Private Placement
Boxlight Corporation (Nasdaq: BOXL) (“Boxlight” or the “Company”), a leading provider of interactive technology solutions, today announced the closing of a private placement on August 6, 2026, of shares of its newly designated Series D Convertible Preferred Stock, par value $0.0001 per share (the “Series D Preferred Stock”), to certain accredited investors for aggregate gross proceeds of up to $7,500,000, of which $5,500,000 was funded at the initial closing, before deducting placement agent fees and other offering expenses.
In connection with the private placement, the Company entered into a Securities Purchase Agreement with the purchasers, pursuant to which the Company agreed to issue and sell an aggregate of 937,500 shares of Series D Preferred Stock at a purchase price of $8.00 per share, each share having a stated value of $10.00, reflecting a 20% original issue discount. The aggregate subscription amount of $7,500,000 is payable in two tranches: $5,500,000 at the initial closing and $2,000,000 upon effectiveness of a resale registration statement, subject to certain conditions.
Each share of Series D Preferred Stock is convertible into shares of the Company’s Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), at a conversion price equal to the greater of (i) the adjusted floor price then in effect and (ii) 80% of the lowest closing price of the Class A Common Stock during the five consecutive trading days ending on and including the trading day immediately prior to the applicable conversion date. The Series D Preferred Stock is subject to a 4.99% beneficial ownership limitation.
