Boxlight revises Series D holder consent tied to Series E preferred stock deal
BOXL•Boxlight filed an amended 8-K replacing an earlier Series D holder consent tied to its Series E preferred stock financing. The revised consent narrows waivers and bars Series E conversions until no Series D preferred stock remains outstanding or specified registration and approval conditions are met.
1. Revised consent terms
The amended consent limits remedies waived in connection with the Series E transaction and adds conversion and registration restrictions. Series E preferred stock cannot be converted until either no Series D preferred stock remains outstanding, or a resale registration statement for Series D conversion shares is effective and required stockholder approvals have been obtained. The amendment also states that Series E is the company’s only preferred series with “as converted” voting rights.
