Boxlight Stock Surges 65%

(RTTNews) - Boxlight Corporation (BOXL) shares rose $1.91, or 64.96 percent, to $4.85 on Wednesday, possibly after the interactive technology company announced the closing of a private placement of Series D Convertible Preferred Stock for aggregate gross proceeds of up to $7.5 million, yesterday.

The stock opened at $4.57 and traded between $4.52 and $5.49 during the session. It has traded in a 52-week range of $2.59 to $365.40. Trading volume reached 30.53 million shares, compared with an average daily volume of 0.54 million shares.

Boxlight receives $5.5 million at the initial closing, with an additional $2 million payable upon effectiveness of a resale registration statement, subject to certain conditions. The company also entered into an equity line allowing it to sell up to $15 million of Class A common stock over 36 months.