Boxlight Corporation has entered into securities purchase agreements for a private placement expected to generate approximately $2.8 million in gross proceeds. The placement involves the sale of 1,323,000 shares of Class A common stock and warrants to purchase an equal number of shares.
The combined purchase price for each share of common stock and its accompanying warrant is $2.13. The warrants will have an exercise price of $2.13 per share, becoming exercisable six months after issuance and expiring five and a half years from that date.
The company intends to use the net proceeds from this private placement for working capital and general corporate purposes. The closing of the transaction is anticipated to occur on or about February 21, 2025, subject to customary closing conditions.
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