Analyst Summary
- Boxlight Corporation entered into a Securities Purchase Agreement with institutional accredited investors on February 19, 2025.
- The company agreed to issue and sell 260,000 shares of Class A common stock, pre-funded warrants to purchase up to 1,063,000 shares of Class A common stock, and warrants to purchase up to 1,323,000 shares of Class A common stock.
- The purchase price was $2.13 per share and accompanying common warrant, and $2.1299 per pre-funded warrant and accompanying common warrant.
- The private placement closed on February 21, 2025, with gross proceeds of approximately $2.8 million before deducting fees and expenses.
- The company intends to use the net proceeds for working capital and general corporate purposes.
- The company filed amendments to the Certificate of Designation of its Series B and Series C Preferred Stock, preventing conversion into Class A Common Stock until certain conditions are met.
- The company engaged A.G.P./Alliance Global Partners as the sole placement agent, agreeing to pay a cash fee of 7.0% of the aggregate gross proceeds.
Potential Implications
Stock Price
- The issuance of new shares and warrants could potentially dilute existing shareholders, impacting the stock price.
- The lock-up agreements signed by directors and executive officers could limit the supply of shares available for trading in the near term.