Exhibit 10.4
CONSENT, WAIVER AND RATIFICATION OF HOLDERS
OF SERIES D
CONVERTIBLE PREFERRED STOCK OF BOXLIGHT CORPORATION
Dated as of October 6, 2026
This CONSENT, WAIVER AND RATIFICATION (this “Consent”) is entered into by the undersigned holders of Series D Convertible Preferred Stock of Boxlight Corporation.
RECITALS
| A. | Boxlight Corporation, a Nevada corporation (the “Company”), issued its Series D Convertible Preferred Stock (the “Series D Preferred”) under a Securities Purchase Agreement dated August 5, 2026 (the “Series D SPA”), a Certificate of Designation of the Series D Convertible Preferred Stock (the “Series D Certificate”), and a Registration Rights Agreement dated August 5, 2026 (the “Series D RRA” and, together with the Series D SPA and Series D Certificate, the “Series D Documents”). |
| B. | On October 6, 2026, the Company entered into a Securities Purchase Agreement (the “Series E SPA”) with J.J. Astor & Co. (“J.J. Astor”) and issued 106,250 shares of Series E Convertible Preferred Stock, with a Stated Value of $10.00 per share, for $850,000 (the “Series E Preferred”), together with a Certificate of Designation, Registration Rights Agreement and Transfer Agent Instruction Letter (together with the Series E SPA, collectively, the “Series E Documents”). The Series E Preferred ranks junior to the Series D Preferred. |
| C. | The undersigned holders of Series D Preferred (the “Consenting Holders”) wish to consent to, waive, and ratify the Series E transaction. |
NOW, THEREFORE, the Consenting Holders agree as follows:
| 1. | Consent and Ratification. Effective as of September 30, 2026 (nunc pro tunc), the Consenting Holders, constituting the Series D Majority Holders (as defined in the Series D Certificate), consent under Sections 15 and 18 of the Series D Certificate to, and ratify and approve, the creation, designation and issuance of the Series E Preferred, the issuance of Class A Common Stock upon its conversion, and the execution, delivery and performance of the Series E Documents, including as a Variable Rate Transaction. |
| 2. | Waivers. Each Consenting Holder, for itself, irrevocably waives, solely with respect to the Series E Preferred and the Series E Documents: |
| (a) | Section 4.10 (Subsequent Equity Sales) of the Series D SPA; |
| (b) | any most-favored-nation right under the Series D SPA, including any right to receive voting rights or any other term of the Series E Preferred; |
| (c) | any participation, equal-treatment or similar right; and |
| (d) | any breach, Event of Default, Default Premium, Default Dividend or other remedy under the Series D Documents arising from the Company entering into the Series E Documents or issuing the Series E Preferred on or before the date of this Consent. |
In addition, the Consenting Holders, constituting the Series D Majority Holders, waive the matters described in clause (d), to the extent arising under the Series D Certificate, as to all shares of Series D Preferred (and all holders thereof) pursuant to Section 18 of the Series D Certificate.
| 3. | Registration Rights. The Consenting Holders, constituting Holders of at least 50.1% of the Registrable Securities under the Series D RRA, consent under Sections 6.2 and 6.5 of the Series D RRA to the Company registering the resale of the Class A Common Stock issuable upon conversion of the Series E Preferred, including by pre-effective amendment to the Company’s Registration Statement on Form S-1 filed September 22, 2026, and amend the Series D RRA to that extent. |
| 4. | No Consideration. No consideration has been offered or paid to any Consenting Holder for this Consent, and this Consent has been requested from all holders of Series D Preferred on the same terms. |
| 5. | Third-Party Beneficiary; Irrevocability. J.J. Astor is an express third-party beneficiary of this Consent and may enforce it directly. This Consent is irrevocable and binds each Consenting Holder and its successors and assigns, including any transferee of Series D Preferred. |
| 6. | Miscellaneous. Nevada law governs. Counterparts and electronic signatures are permitted. Except as expressly provided, the Series D Documents remain in full force and effect. |
[Signature pages follow]
2
CONSENTING HOLDER SIGNATURE PAGE
IN WITNESS WHEREOF, the undersigned Consenting Holder has executed this Consent, Waiver and Ratification of Holders of Series D Convertible Preferred Stock of Boxlight Corporation as of the date set forth below.
CONSENTING HOLDER:
Name of Holder: ______________________________
Number of shares of Series D Preferred held: ______________
Signature: ______________________________
Name: ______________________________
Title: ______________________________
Date: ______________________________
[Consenting Holder Signature Page to Consent, Waiver and Ratification of Holders of Series D Convertible Preferred Stock]
3
ACKNOWLEDGMENT
Acknowledged and agreed as of the date first written above:
| BOXLIGHT CORPORATION | ||
| By: | ||
| Name: | Jennifer Grabow | |
| Title: | Interim Chief Financial Officer | |
| J.J. ASTOR & CO. | ||
| By: | ||
| Name: | Michael Pope | |
| Title: | Chief Executive Officer | |
[Acknowledgment Signature Page to Consent, Waiver and Ratification of Holders of Series D Convertible Preferred Stock]
4