BOXL stock rose in pre-market trading on September 22, 2020, after the company announced a $22 million investment from Lind Global Macro Fund, LP.

Boxlight Corporation (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 $22,000,000 with Lind Global Macro Fund, LP, an investment fund managed by The Lind Partners, a New York based institutional fund manager.

“Proceeds from the investment, along with the $34.5 million in gross proceeds from our July 2020 offering, will be used for future acquisition opportunities,” said Michael Pope, Chairman and Chief Executive Officer at Boxlight. “Specifically, we are targeting companies for acquisition that will either increase our global footprint or enhance our solutions portfolio for the education market. Potential candidates will be immediately accretive, generate significant revenues, produce positive earnings, and exhibit substantial growth potential.”

The investment is in the form of a $22,000,000 convertible note with a 24-month maturity, a 4% APR (0% APR if the Company’s stock price is trading above $3.50), and a fixed conversion price of $3.50 per share of Boxlight’s Class A voting common stock. Principal payments are due in 20 monthly installments beginning November 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, Lind Global Macro Fund will have the option of converting 25 percent of the outstanding face value into shares of Boxlight Class A common stock.

“We are pleased to provide another follow-on investment to Boxlight,” said Phillip Valliere, managing director at The Lind Partners. “Boxlight’s management team has exhibited a strong history of integrating successful acquisition targets, and we are confident in their ability to continue to grow through future acquisitions as well as organically. We are also impressed with the company’s progress over recent quarters including new product launches and partnerships, significant contract wins, improved earnings and healthy working capital.”

On September 18, 2020, Boxlight Corporation (Nasdaq: BOXL) announced the addition of three seasoned sales leaders in North America.

Scott Willett joins Boxlight as Vice President Sales, North America and will lead the rapid expansion of the sales organization in company’s largest market. Scott is a well-respected and trusted sales leader in education technology and has a history of high performance at Dell and most recently, Promethean.

Dan Deem joins Boxlight as Vice President Sales, Platforms & Services. Dan leads a specialized team focused on sales of our MimioConnect® blended learning platform, MySTEMKits lesson platform and Boxlight-EOS training services. Dan is a subject-matter expert in education technology and has held executive-level sales leadership positions at Apple, Promethean, Panasonic and SAM Labs.

Michele Gill Conte joins Boxlight as Vice President, Strategic Accounts. Michele is an experienced sales professional and a passionate advocate for teachers and students. She brings tremendous experience from Sussman Education, Promethean, and Follett Learning. Michele will support Boxlight partners, schools and districts in New Jersey, New York and New England.

“I am thrilled to welcome these outstanding professionals to Boxlight,” said Daniel Leis, Head of Global Sales & Marketing at Boxlight. “Demand for our solutions has never been stronger, and we remain committed to attracting the best talent in the industry to provide strong support to our reseller and education partners.”

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