Boxlight slumps on direct offering plan

Boxlight

22/07/2022 19:57

** Shares of interactive technology company Boxlight's
shares  BOXL.O  slump 17.4% to $0.56, biggest pct fall in nearly
2 years
    ** Stock hits lowest level since April 2020
    ** Plans to raise ~5 mln through direct offering with an
institutional investor  urn:newsml:reuters.com:*:nBw3S0gHta
    ** Offers ~7.35 mln shares as well as equal number of
warrants to purchase similar number of shares; offering,
expected to close on or about July 26, priced at $0.68/shr and
warrant 
    ** Maxim Group LLC acting as sole placement agent for
offering
    ** BOXL has 65.72 mln shares outstanding worth $44.57 mln -
per Refinitiv data
    ** Stock down 59.4% YTD

 (Reporting by Johann M Cherian in Bengaluru      
)
 ((yohann.mcherian@thomsonreuters.com))