Amendment to Inventory Finance Agreement and Conversion of Debt to Equity

Boxlight Corporation entered into an amendment to its inventory finance agreement with J.J. Astor & Co. on April 1, 2026. The amendment converts $556,200 of the outstanding balance into 600,000 shares of common stock at a conversion price of $0.927 per share. The agreement includes a "Proceeds Protection" clause, requiring Boxlight to ensure J.J. Astor receives at least $556,200 from the sale of these shares. If the sale proceeds are less than this amount, Boxlight must pay the shortfall in cash within five trading days. Michael Pope, Chairman of Boxlight, is also the CEO of J.J. Astor. The company acknowledged an existing Event of Default under the agreement. Boxlight is obligated to file a registration statement for the conversion shares by June 30, 2026. The agreement also addresses Nasdaq compliance, ownership limitations, and potential shareholder approval for future share issuances.