Boxlight Announces Pricing of $5.0 Million Registered Direct Offering
July 22 2022 - 09:00AM
Business Wire
Boxlight Corporation (“Boxlight” or the “Company”) (Nasdaq:
BOXL), a leading provider of interactive technology, digital
signage, classroom audio, and services, announced today that it has
entered into a securities purchase agreement with a single
institutional investor to purchase approximately $5.0 million of
its shares of common stock (or pre-funded warrants in lieu thereof)
and warrants to purchase common stock in a registered direct
offering. The combined purchase price for one share of common stock
(or pre-funded warrant in lieu thereof) and one warrant to purchase
one share of common stock will be $0.68. Under the terms of the
securities purchase agreement, Boxlight has agreed to sell
7,352,940 shares of common stock (or pre-funded warrants in lieu
thereof) and warrants to purchase up to an aggregate of 7,352,940
shares of common stock. The warrants will be exercisable six months
from the date of issuance, will expire five and a half years from
the date of issuance and will have an exercise price of $0.68 per
share of common stock.
Maxim Group LLC is acting as the sole placement agent in
connection with the offering.
The offering is expected to close on or about July 26, 2022,
subject to the satisfaction of customary closing conditions.
The shares of common stock, pre-funded warrants and warrants are
being offered pursuant to the Company’s shelf registration
statement on Form S-3 (File No. 333-239939), which was declared
effective by the U.S. Securities and Exchange Commission (the
"SEC") on July 28, 2020. The offering will be made only by means of
a prospectus supplement that forms a part of such registration
statement. A prospectus supplement relating to the shares of common
stock, pre-funded warrants and warrants will be filed by Boxlight
with the SEC. When available, copies of the prospectus supplement
relating to the offering, together with the accompanying
prospectus, can be obtained at the SEC's website at www.sec.gov or
from Maxim Group LLC, 300 Park Avenue, New York, NY 10022,
Attention: Syndicate Department, or via email at
syndicate@maximgrp.com or telephone at (212) 895-3745.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
About Boxlight Corporation
Boxlight Corporation (Nasdaq: BOXL) ("Boxlight") is a leading
provider of interactive technology solutions under its
award-winning brands Clevertouch®, FrontRow™ and Mimio®. The
company aims to improve engagement and communication in diverse
business and education environments. Boxlight develops, sells, and
services its integrated solution suite including interactive
displays, collaboration software, audio solutions, supporting
accessories and professional services. For more information about
the Boxlight story, visit www.boxlight.com, www.clevertouch.com and
www.gofrontrow.com.
Forward-Looking Statements
This press release may contain information about Boxlight's view
of its future expectations, plans and prospects that constitute
forward-looking statements. Actual results may differ materially
from historical results or those indicated by these forward-looking
statements because of a variety of factors including, but not
limited to, risks and uncertainties associated with its ability to
maintain and grow its business, variability of operating results,
its development and introduction of new products and services,
marketing and other business development initiatives, competition
in the industry, etc. Boxlight encourages you to review other
factors that may affect its future results in Boxlight’s filings
with the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20220722005236/en/
Media Sunshine Nance +1 360-464-2119 x254
sunshine.nance@boxlight.com
Investor Relations Greg Wiggins +1 360-464-4478
investor.relations@boxlight.com
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