Randy Uglem Appointed CEO of Lendway Inc. in Connection with Pivot to Non-Bank Lending
Insignia Systems, Inc. Closes Asset Sale Of In-Store Marketing Business To Park Printing Affiliate
MINNEAPOLIS, MN / ACCESSWIRE / August 4, 2023 / Lendway, Inc. (formerly, Insignia Systems, Inc.) (NASDAQ:LDWY) (the “Company”) has closed the previously announced sale of its in-store marketing business to an affiliate of Park Printing for an aggregate cash purchase price of $3.5 million, subject to an escrow and certain post-closing adjustments. Effective August 4, 2023, the Company has changed its name to Lendway, Inc. and the new ticker symbol “LDWY” as it focuses on building a scalable non-bank lending platform. As previously disclosed, the company’s mission will be to create exceptional financing solutions and connect borrowers with competitive funding choices.
Insignia Systems, Inc. Closes Asset Sale Of In-Store Marketing Business To Park Printing Affiliate
“This transaction is a significant milestone for our organization that we have been diligently working on as the Company explores strategic alternatives,” the Company’s outgoing President and CEO, Kristine Glancy commented. “Our priority has been to deliver value to our shareholders. Selling our in-store marketing assets for cash and pivoting to our new non-bank lending platform allows us to continue to do so. I am excited that most of our employees will make the transition over to the Park Printing family, making this a seamless transaction for the affected employees, vendors, and clients. I am proud of what we accomplished together and wish all of our team the best in their future endeavors.”
Insignia Systems, Inc. Closes Asset Sale Of In-Store Marketing Business To Park Printing Affiliate
“Park Printing is thrilled to join forces with the Insignia Systems in-store marketing business to solidify our longstanding partnership and further continued growth together. Combining best practices and capitalizing on synergies is just the beginning of what we believe to be a very successful, well-rounded organization. Both businesses have shared similar values and goals which…
Insignia Systems, Inc. Closes Asset Sale Of In-Store Marketing Business To Park Printing Affiliate
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Insignia Systems, Inc. Closes Asset Sale Of In-Store Marketing Business To Park Printing Affiliate
Insignia Systems, Inc. Closes Asset Sale Of In-Store Marketing Business To Park Printing Affiliate