Boxlight to sell 1.333M shares at $3.00 in registered direct offering

Boxlight (BOXL) announced that it has entered into securities purchase agreements with certain institutional investors for the purchase and sale of 1,333,333 shares of common stock at a purchase price of $3.00 per share, pursuant to a registered direct offering priced at-the-market under Nasdaq rules, resulting in gross proceeds of approximately $4M, before deducting placement agent commissions and other offering expenses. The closing of the offering is expected to occur on or about September 24, subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds from the offering for working capital and debt reduction as agreed upon with the company’s senior lender.