Boxlight Corporation entered into a Securities Purchase Agreement with J.J. Astor & Co. to issue 106,250 shares of Series E Convertible Preferred Stock at $8.00 per share, raising $850,000 in net proceeds for general corporate purposes and potential acquisitions. The filing also details a First Amendment to the existing Series D Securities Purchase Agreement, incorporating consent from Series D holders regarding the new issuance and amendments to the Series D Certificate of Designation. These amendments modify liquidation preferences and add protective provisions requiring majority holder approval for fundamental transactions like mergers or asset sales. The Series E stock carries variable conversion rights, a 19.99% exchange cap pending shareholder approval, and cumulative default dividends of 20% per annum upon specific trigger events.
Boxlight Corporation operates in the interactive display and digital signage industry.
