TSX futures inch lower after index closes at new all-time high
DULUTH, Ga. - Boxlight Corporation (NASDAQ:BOXL), an educational technology company, announced Tuesday it has entered into securities purchase agreements with institutional investors for a registered direct offering of 1,333,333 shares of common stock at $3.00 per share, raising approximately $4 million in gross proceeds. The announcement comes as the stock has shown remarkable momentum, with InvestingPro data showing a 194% return over the past six months and a market capitalization of $12.7 million.
The company plans to use the net proceeds for working capital and debt reduction as agreed upon with its senior lender. The offering, priced at-the-market under Nasdaq rules, is expected to close on or about September 24, 2025, subject to customary closing conditions.
The offering is being conducted through an effective shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on February 5, 2025.
This capital raise comes as Boxlight faces a deadline to address its noncompliance with Nasdaq’s minimum stockholders’ equity requirement. According to the press release, the company must resolve this issue by October 6, 2025, to avoid potential delisting from the Nasdaq Capital Market.
Boxlight provides interactive technology solutions under its brands Clevertouch, FrontRow, and Mimio, developing and selling interactive displays, collaboration software, audio solutions, and related services for business and education environments.
The information in this article is based on a press release statement from Boxlight Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.