Boxlight Corporation (NASDAQ:BOXL) shares are trading lower on Thursday as investors digest the company’s newly announced financing package and second-quarter results, while weighing potential dilution and balance-sheet risks.
The pullback follows a 223.55% surge on Wednesday, when Boxlight shares closed at $9.48 after investors cheered the liquidity boost from the financing deal.
Financing Package Draws Focus Boxlight completed the initial closing of a private placement of Series D Convertible Preferred Stock.
The closing generated $5.5 million in gross proceeds toward a total target of up to $7.5 million.
It also established a 36-month equity line of credit with Secure Net Capital LLC, providing access to up to $15 million.
