Boxlight Corp Converts $556,200 of Debt to Equity with J.J. Astor at $0.927 per Share

Boxlight Corporation entered into an amendment to its inventory finance agreement with J.J. Astor & Co., converting $556,200 of outstanding debt into 600,000 shares of common stock at a conversion price of $0.927 per share. The agreement includes a 'Proceeds Protection' clause, ensuring J.J. Astor receives at least $556,200 from the sale of these shares, with Boxlight obligated to cover any shortfall in cash. The CEO of J.J. Astor is also the Chairman of Boxlight's Board, indicating a related-party transaction.