Boxlight converts $556,200 debt to 600K shares at $0.927; acknowledges default

Boxlight Corp

$556,200 of inventory finance debt converted into 600,000 common shares at $0.927/share; related party with Chairman Michael Pope.
Company acknowledges an Event of Default is continuing under the agreement.
Proceeds Protection clause: if sale of conversion shares yields less than $556,200, Boxlight must pay shortfall in cash or additional shares (Make Whole Payment).
Maximum inventory purchase amount revised to $10M; registration statement for resale of shares due by June 30, 2026.
Issuance limited to 19.99% beneficial ownership cap; shareholder approval required for any shares exceeding 20% of outstanding.

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