Boxlight converts Series C preferred to common, amends Series B to remove conversion and redemption rights

Boxlight Corp

• All 1,320,850 Series C shares converted into 198,920 shares of Class A common stock.
• Series B conversion rights (optional and automatic) and holder redemption rights eliminated.
• Series B dividend rate increases from 8% to 9% in 2027, up to 12% by 2030, cumulative and non-compounding.
• Company to apply up to 20% of net proceeds from future equity offerings to redeem Series B at $10/share.
• Unpaid Series B dividends accrue at 12% interest; no dividends on junior stock unless Series B dividends paid first.