Boxlight, which manufactures interactive projectors and other classroom materials, lowered the proposed deal size and added warrants for its upcoming IPO on Tuesday.
The Lawrenceville, GA-based company now plans to raise $10 million by offering 1.1 million shares at a price range of $8 to $10. At the midpoint it would command a diluted market cap of $58 million. The company had previously filed to offer 2.2 million shares at $8 to $10, meaning it is looking to raise 50% less in proceeds at a 15% lower market cap.
Boxlight, which was founded in 2001 and booked $31 million in sales for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol BOXL. Aegis Capital is the sole bookrunner on the deal. It is expected to price later this month.
