Boxlight to price IPO of 1,818,182 shares between $10.00 and $12.00

Aegis Capital raises funds to repay line-of-credit debt, convertibles

By Devika Patel

Knoxville, Tenn., July 28 – Boxlight Corp. will sell 1,818,182 class A common shares in its initial public offering with a 45-day greenshoe of 272,727 additional shares, according to a Form S-1/A filed Tuesday with the Securities and Exchange Commission. The company has registered up to $24.25 million of stock for the deal, which was announced on June 9.

The shares will be sold at a price expected to fall between $10.00 and $12.00 per share.

Aegis Capital Corp. is the bookrunner.

Proceeds would be used for a portion of the purchase price for Globisens Ltd. and to purchase $1,952,000 of Everest Technology Ltd. shares from K Laser International Co., Ltd. It will also be used for research and development, sales and marketing, improving inventory management, building infrastructure, hiring personnel, line-of-credit debt repayment, convertible debt repayment, working capital and other general corporate purposes, including investments.

Of the debt repayments, $214,050 will be paid to Vert Capital for a Sept. 30, 2014 10% line-of-credit agreement, about $50,000 will be paid to Mark Elliott to satisfy a Jan 16 10% convertible promissory note, and about $100,000 will be paid to Sy Silverstein for an April 3 12% line-of-credit agreement.

Based in Lawrenceville, Ga., the technology company sells interactive educational products. It expects its stock to be listed on the Nasdaq Capital Market under the symbol “BOXL.”

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