Boxlight Announces Pricing of $5.0 Million Registered Direct Offering

Boxlight Corporation , a leading provider of interactive technology, digital signage, classroom audio, and services, announced 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.

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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.

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