Boxlight Secures $68.5 Million Credit Facility and Completes Acquisition of FrontRow
Summary
LAWRENCEVILLE, Ga.--(BUSINESS WIRE)--Boxlight Corporation (Nasdaq: BOXL), a leading provider of interactive technologies, today announced that it has entered into a $68.5 million credit agreement with WhiteHawk Finance, LLC (“WhiteHawk”), providing funding to refinance existing debt, complete the acquisition of FrontRow Calypso LLC (“FrontRow”) and allow for general working capital. The facility is secured by all assets of the company and bears interest at the LIBOR rate plus 10.75%, subject to adjustment. Based in Petaluma, California, FrontRow makes technology that improves communication in learning environments, including developing network-based solutions for intercom, paging, bells, mass notification, classroom sound, lesson sharing, AV control and management. “We had a busy year-end retiring the Lind and Sallyport debts, welcoming WhiteHawk as our new lending partner and completing the acquisition of FrontRow,” commented Michael Pope, Chairman and CEO at Boxlight. This press release may contain information about Boxlights view of its future expectations, plans and prospects that constitute forward-looking statements.
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