Boxlight Corporation has announced significant changes regarding its preferred shares, effective October 1, 2025. All outstanding shares of the company's Series C Preferred Stock, totaling 1,320,850 shares, have been converted into 198,920 shares of Class A Common Stock. Additionally, the terms of the Series B Preferred Stock have been amended. Holders of Series B Preferred Stock no longer have the option to convert their shares into common stock and will have their redemption rights modified. Importantly, the agreement stipulates that Boxlight will allocate up to 20% of net proceeds from future primary equity offerings toward redeeming or repurchasing Series B Preferred Stock at a fixed redemption price of $10.00 per share, subject to certain limitations. Furthermore, any unpaid cumulative dividends on Series B Preferred Stock will accrue interest at a fixed rate of 12% until paid in full, and no dividends can be paid on junior classes, including common stock, until these obligations are satisfied.