Boxlight Corp incurred credit facility of $3.0 million with Whitehawk Finance LLC maturing September 29, 2023.
“The Third Amendment was entered into for purposes of the Lender funding an additional $3.0 million delayed draw term loan (the “Additional Draw”). The Additional Draw was funded on April 24, 2023, must be repaid on or prior to September 29, 2023, is not subject to any prepayment penalties, and adjusts certain terms to the Credit Agreement, including adding test period end dates and corresponding Senior Leverage Ratios (as defined in the Credit Amendment) and revising the minimum liquidity requirements that the Company must maintain compliance with pertaining to certain Borrowing Base Requirements (as defined in the Credit Agreement), among other adjustments.”
Material Agreements
Boxlight Corp amended Third Amendment to Credit Agreement with Whitehawk Finance LLC valued at Additional $3.0 million delayed draw term loan (effective 2023-04-24).
“On April 24, 2023, Boxlight Corporation, a Nevada corporation (the “Company”), entered into a third amendment (the “Third Amendment”) to the credit agreement (the “Credit Agreement”) with Whitehawk Capital Partners, LP, as collateral agent (the “Collateral Agent”), and Whitehawk Finance LLC (the “Lender”).”
“Expect Q1 2023 Revenue of $40 million and Adjusted EBITDA of $3 million”
Earnings Releases
Boxlight Corp reported the fourth quarter and year ended December 31, 2022 results: revenue $42.8 million, EPS ($0.03).
“--- EX-99.1 (EXHIBIT 99.1) --- EX-99.1 2 tm239648d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Boxlight Reports Fourth Quarter and Full Year 2022 Financial Results · Revenue was $42.8 million for the quarter, a decrease of 2.7% from the prior year quarter and increased by 19.8% to $221.8 million for the year · Net loss per diluted common share improved by $0.08 to”
Earnings Releases
Boxlight Corp reported the fiscal year ended December 31, 2022 results: revenue $221.8 million, net income ($3.7) million.
“022 Financial Results · Revenue was $42.8 million for the quarter, a decrease of 2.7% from the prior year quarter and increased by 19.8% to $221.8 million for the year · Net loss per diluted common share improved by $0.08 to ($0.03) for the quarter and by $0.16 per common share to ($0.07) for the”
Earnings Releases
Boxlight Corp reported financial results for Fourth Quarter and Full Year 2022.
“While we experienced slowing customer demand during the second half of 2022, which we believe to be temporary, we delivered stronger than expected profitability including a fourth quarter Adjusted EBITDA exceeding our guidance of $2 million.”
Listing & Compliance Notices
Boxlight Corp received a nasdaq extension granted notice regarding minimum bid price (rules 5450(a)(1)).
“January 3, 2023, the Company received formal approval from Nasdaq granting it an additional 180 days, or until July 3, 2023 (the “Compliance Date”), to regain compliance with the Bid Price Requirement. If at any time before the Compliance Date the closing bid price for the Company’s Common Stock is at least $1.00 for a minimum of 10 consecutive business days, the Staff will provide the Company written confirmation of compliance with the Bid Price Requirement. If the Company does not regain compliance with the Bid Price Requirement by the Compliance Date, the Staff will provide written notifica”
Listing & Compliance Notices
Boxlight Corp received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).
“ding 30 consecutive business days, the closing bid price for the Company's Class A common stock (the "Common Stock") was trading below the minimum $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Requirement"). The notification from Nasdaq had no immediate effect on the Company's Nasdaq listing and the Company's Common Stock will continue to trade on Nasdaq under the ticker symbol "BOXL." In accordance with Nasdaq Rules, the Company has been provided an initial period of 180 calendar days, or until January 2, 2023 (the ("Initial Grace Period"), to regain compliance with the Bid Price Requirement.”
Earnings Releases
Boxlight Corp reported third quarter ended September 30, 2022 results: revenue $68.7 million, net income $3.1 million, EPS $0.03. Guidance initiated.
“filing specifically references such information. --- EX-99.1 (EX-99.1) --- Boxlight Reports Third Quarter 2022 Financial Results ● Revenue increased by 12.7% to $68.7 million ● Net income per diluted common share improved by $0.02 to $0.03 ● Adjusted EBITDA increased by $2.7 million to $9.9 million ● Ended quarter with $22.0 million in Cash, $62.3”
Patrick Foley departed as Chief Financial Officer at Boxlight Corp.
“As previously reported on April 5, 2022, Patrick Foley, the Company’s current Chief Financial Officer, provided notice he would step down for personal reasons. Mr. Foley will remain with Boxlight until July 29, 2022 in order to assist with the transition.”
Greg Wiggins was appointed as Chief Financial Officer at Boxlight Corp.
“On June 13, 2022, Boxlight Corporation (Boxlight” or the “Company”) entered into an employment agreement (the “Employment Agreement”) with Greg Wiggins, pursuant to which Mr. Wiggins will commence service as the Company’s Chief Financial Officer on July 5, 2022.”
Patrick Foley resigned as Chief Financial Officer at Boxlight Corp.
“On April 5, 2022, Boxlight Corporation, a Nevada Corporation (“Boxlight”), received notice from the Company’s Chief Financial Officer, Patrick Foley, that he was resigning from the Company, effective October 4, 2022.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.