Boxlight enters forbearance; warns it may not repay $32.2M debt due Dec 31, 2025

Boxlight Corp

Company indebted ~$32.2M under credit agreement maturing Dec 31, 2025; does not expect to be able to repay.
Lender waived specified defaults (covenant and borrowing base violations) through Dec 31, 2025, subject to conditions.
Company must make $3M prepayment; interest margins increased to 6.50% (SOFR) and 5.50% (reference); IP borrowing base reduced from $11.2M to $8M.
If lender forecloses, company may be unable to continue as going concern; common stockholders could lose most or all investment.
Company must add all subsidiaries as loan parties by Dec 10, 2025, and deliver appraisals/exams by Dec 22/29, 2025, or face immediate default.

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