rainn.png
Thursday April 9th, 2020 7:21AM

Boxlight Receives Additional $750,000 Investment From The Lind Partners

By The Associated Press

LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--Feb 6, 2020--

(Nasdaq: BOXL), a leading provider of interactive technology solutions for the global education market, today announced its entry into a funding agreement for gross proceeds of $750,000 (the "Investment") with Lind Global Macro Fund, LP, an investment fund managed by The Lind Partners, a New York based institutional fund manager.

With this additional $750,000 Investment, Lind Global Macro Fund, LP has provided a total of $6,000,000 in net investment proceeds to Boxlight during the previous 12 months.

"We are fortunate to have a supportive investment partner during this critical stage as a company," said Chief Executive Officer of Boxlight, Harold Bevis. "Proceeds from The Lind Partners investment will increase our working capital and allow us to execute our strategy of revenue growth and improved earnings. We are committed to increased market penetration and delivering value to our shareholders, while improving education outcomes in classrooms globally."

"Boxlight is positioned to be a leader in K-12 education with their award-winning solution suite, experienced management team and global partner network," said Phillip Valliere, managing director at The Lind Partners. "We are supportive of management’s vision and are committed to continue to support the company as their long-term capital partner."

The Investment is in the form of a $825,000 convertible note with a 24-month maturity, 8% APR and a fixed conversion price of $2.50 per share of Boxlight’s Class A voting common stock. Principal payments are due in 18 monthly installments beginning August 2020. Under the terms of the note, Boxlight has the right to make principal and interest payments in the form of either cash or Class A common stock.

Boxlight also has the right to prepay the convertible note at any time without penalty (the "Buy-Back Right"). Should Boxlight choose to exercise its Buy-Back Right, The Lind Group will have the option of converting 25 percent of the outstanding face value into shares of Boxlight Class A common stock.

The convertible note is secured by a lien on all Boxlight assets.

Boxlight Corporation (Nasdaq: BOXL) is a leading provider of technology solutions for the global learning market. Boxlight aims to improve learning and engagement in classrooms and to help educators enhance student outcomes by developing the products they need. The company develops, sells and services its integrated, interactive solution suite including software, classroom technologies, professional development and support services. For more information about the Boxlight story, visit .

The Lind Partners is an institutional fund manager and leading provider of growth capital to small- and mid-cap companies publicly traded in the US, Canada, Australia and the UK. Lind targets high growth sectors such as technology, biotech, clean-tech, mining and oil & gas. Founded in 2011, Lind has completed over 70 direct investments for more than $850 million in total value and has an established reputation as a flexible and supportive capital partner to investee companies. For more information, visit .

This press release may contain information about Boxlight's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements because of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to maintain and grow its business, variability of operating results, its development and introduction of new products and services, marketing and other business development initiatives and competition in the industry, among other things. Boxlight encourages you to review other factors that may affect its future results in Boxlight’s filings with the Securities and Exchange Commission.

View source version on businesswire.com:

CONTACT: Media

Lori Page

Vice President, Global Marketing

+1 866-972-1549, x247

lori.page@boxlight.com

Investor Relations

Michael Pope

President

+1 360-464-4478

investor.relations@boxlight.com

KEYWORD: UNITED STATES NORTH AMERICA GEORGIA

INDUSTRY KEYWORD: SOFTWARE INTERNET FINANCE PROFESSIONAL SERVICES TECHNOLOGY PRIMARY/SECONDARY EDUCATION MOBILE/WIRELESS

SOURCE: Boxlight Corporation

Copyright Business Wire 2020.

PUB: 02/06/2020 08:30 AM/DISC: 02/06/2020 08:30 AM

http://www.businesswire.com/news/home/20200206005507/en

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Online - Georgia News, AP Business Wire - Georgia, AP Business - Industries, AP Business - Financial Services
© Copyright 2020 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Passengers say crumpled plane landed very fast in Istanbul
Passengers who lived through the crash landing in Istanbul that killed three people and left a Turkish airliner crumpled into pieces say the plane's descent felt unusually fast
8:56AM ( 10 minutes ago )
Israeli-Palestinian violence spikes a week after Trump plan
Israeli forces have killed two Palestinians in clashes in the occupied West Bank and a third in Jerusalem after he opened fire at a police officer
8:49AM ( 16 minutes ago )
Trump courts black voters, but opposition remains deep
President Donald Trump used part of his State of the Union speech to court black voters, but opposition to him remains deep
8:43AM ( 23 minutes ago )
Associated Press (AP)
Lagarde: Central banks have less room to combat a downturn
The head of the European Central Bank is warning that the world's central banks have less ammunition at hand to support the economy in a downturn
8:02AM ( 1 hour ago )
Yum Brands ends 2019 strong, but China virus could cut sales
KFC owner Yum Brands ended 2019 with better-than-expected sales, but the impact of the new virus in China could weigh heavily on its first quarter results
8:02AM ( 1 hour ago )
China opens new hospitals for virus patients, deaths top 560
China has finished building a second new hospital to isolate and treat patients of a virus that has killed more than 560 people and continues to spread, disrupting travel and people's lives and fueling economic fears
7:58AM ( 1 hour ago )
AP Business
Huawei, guarding US business, says Verizon violated patents
Chinese tech giant Huawei has accused U.S. phone carrier Verizon of violating its patents in a lawsuit, broadening efforts to defend its business in the United States amid government sanctions
5:01AM ( 4 hours ago )
Virus impact: Huawei going to global mobile show
Smartphone maker Huawei says it will attend the industry’s biggest global event in Barcelona this month while more companies reported losses due to China’s efforts to contain a virus outbreak
4:35AM ( 4 hours ago )
Asian economies cut rates, move to blunt impact of virus
Central banks in the Philippines and Thailand have cut their benchmark interest rates as China's neighbors seek ways to soften the impact of measures to contain a virus outbreak that has killed more than 560 people
3:51AM ( 5 hours ago )
AP Business - Corporate News
Hawks beat Wolves 127-120 as teams brace for roster shifts
Trae Young had 38 points and 11 rebounds and John Collins added 27 points and 12 rebounds to lead Atlanta past Minnesota 127-120, as the teams braced for major roster shifts
12:17AM ( 8 hours ago )
Covington to Rockets, Capela to Hawks in 4-team trade
Robert Covington is going to the Houston Rockets and Clint Capela is going to the Atlanta Hawks
12:12AM ( 8 hours ago )
SEC's recruiting dominance particularly apparent this year
The Southeastern Conference dominated the recruiting landscape even more than usual this year
9:06PM ( 12 hours ago )
AP Online - Georgia News
AP Business Wire - Georgia
Governors warn Trump rule could lead to big Medicaid cuts
Governors of both major political parties are warning that a little-noticed regulation proposed by the Trump administration could lead to big cuts in Medicaid
6:53AM ( 2 hours ago )
Asia stocks surge after Trump acquitted, China virus aid
Asian stock markets have surged after President Donald Trump was acquitted in an impeachment trial and China promised tax cuts and other help to businesses reeling from a virus outbreak
2:48AM ( 6 hours ago )
10 more on one of two isolated cruise ships sick with virus
Japanese health officials say 10 more people have been sickened with a new virus aboard one of two quarantined cruise ships with some 5,400 passengers and crew aboard
8:55PM ( 12 hours ago )
AP Business - Industries
Asian shares rise, Europe falls after China moves on virus
European indexes are falling in early trading after Asian shares rose on optimism that China's latest actions may help curtail some of the expected economic damage from the virus outbreak
3:36AM ( 1 day ago )
Australian bank official says virus is an economic unknown
The head of Australia's central bank says the nation's deadly wildfires will have no impact on economic growth this year but it was too early to know the impact of a new virus
1:56AM ( 1 day ago )
Asian shares up on China efforts despite virus worries
Asian shares are rising on optimism that China's latest actions may help curtail some of the expected economic damage from the virus outbreak
1:37AM ( 1 day ago )
AP Business - Financial Services
Passengers say crumpled plane landed very fast in Istanbul
Passengers who lived through the crash landing in Istanbul that killed three people and left a Turkish airliner crumpled into pieces say the plane's descent felt unusually fast
8:56AM ( 10 minutes ago )
Israeli-Palestinian violence spikes a week after Trump plan
Israeli forces have killed two Palestinians in clashes in the occupied West Bank and a third in Jerusalem after he opened fire at a police officer
8:49AM ( 16 minutes ago )
Trump courts black voters, but opposition remains deep
President Donald Trump used part of his State of the Union speech to court black voters, but opposition to him remains deep
8:43AM ( 23 minutes ago )
Spanish PM: Formal talks with Catalonia to start this month
Spanish Prime Minister Pedro Sánchez says that formal talks between his government and Catalonia's will start this month to find an exit to one of the country's most dividing political crises
8:36AM ( 30 minutes ago )
German governor elected with far-right help seeks new vote
A new German state governor who got the job with the help of the far-right has announced that he is seeking a new regional vote
8:28AM ( 38 minutes ago )