Insignia Systems Stock Price, News & Analysis

Insignia Systems, Inc. (NASDAQ: ISIG) is an innovative company currently undergoing a significant transformation. Traditionally a leading provider of in-store marketing solutions to consumer-packaged goods (CPG) manufacturers, retailers, and shopper marketing agencies, Insignia Systems is in the process of selling its in-store marketing business to an affiliate of Park Printing, Inc. This strategic move marks a pivotal change in the company's direction.

At its annual meeting of shareholders held on July 27, 2023, the company's agreement to sell its in-store marketing business was approved. The sale is expected to be completed on August 3, 2023. Following this sale, Insignia Systems will shift its focus to building a scalable non-bank lending platform. This platform will purchase existing loans and/or originate and fund new loans, providing new growth avenues and aiming for enhanced shareholder value creation.

The company's chairman, Mark Jundt, expressed optimism about this transition, emphasizing the potential for new opportunities in the non-bank lending sector. As part of this transformation, Insignia Systems will be rebranded as Lendway, Inc. effective August 4, 2023, with its common stock expected to trade under the new symbol LDWY.

In a related development, Kristine Glancy, the company's President and CEO, will be departing at the end of August 2023. During her tenure since joining in 2016, Glancy has been instrumental in driving the company's growth and positioning it for this significant transition. The company's Board, represented by Nick Swenson, has acknowledged her contributions and wished her success in her future endeavors.

Insignia Systems' shift to non-bank lending is aimed at providing exceptional financing solutions and connecting customers with competitive funding choices. The company's new mission is to be a leader in the non-bank lending sector, focusing on innovation and customer satisfaction.

For more information, visit the company's website at www.insigniasystems.com or contact them at investorrelations@insigniasystems.com.