Insignia Systems, Inc. Closes Asset Sale of In-Store Marketing Business To Park Printing Affiliate

Lendway Inc.

August 4, 2023 at 9:00 AM

...

Randy Uglem Appointed CEO of Lendway Inc. in Connection with Pivot to Non-Bank Lending

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.

"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."

"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 creates an ideal path forward and one that will bring value to clients, vendors, and employees," Park Printing Co-Owner Tim Koloski commented.

Reflecting the Company's transition to non-bank lending, Randy Uglem was promoted to President and CEO effective August 4, 2023. "I'm thrilled about my new leadership role at Lendway, where we're dedicated to responsible lending," says Mr. Uglem. "With our lending experience, we take pride in crafting customized financing solutions to support our clients' aspirations. Our approach involves fostering long-term collaborative relationships with clients, ensuring our vested interests in their success. Initially, our target geography is Minnesota and nearby states."

The newly elected Chair of the Company's Board of Directors, Mark Jundt, commented: "Closing the chapter on our in-store marketing business is not the end, but the beginning of Lendway, ushering in a new journey towards a world of significant non-bank lending possibilities for the Company. Our heartfelt thanks to Kristine for her stewardship and invaluable contributions over the years. With Randy as our new CEO, we look forward to propelling the business forward and delivering enhanced stockholder value."

About Lendway, Inc.
The Company is focused on building a scalable non-bank lending platform to purchase existing loans and/or originate and fund new loans.

The Company adopted the name "Lendway, Inc." effective today, August 4, 2023, and its common stock is expected to begin trading under the symbol "LDWY" as of the commencement of trading today.

For additional information, contact (800) 874-4648, or visit the Company's website at www.lendway.com.

Investor inquiries can be submitted to info@lendway.com.

About Park Printing
Park Printing is a family-owned commercial printing, packaging company located in Northeast Minneapolis providing industry leading quality and service since 1960.

Cautionary Statement for the Purpose of Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995
Statements in this press release that are not statements of historical or current facts are considered forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The words "anticipate," "believe," "continue," "expect," "intend," "opportunity," "plan," "remain," "seek," "will" and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these or any forward-looking statements, which speak only as of the date of this press release. Statements made in this press release regarding, for instance, the Company's ongoing exploration of strategic alternatives, and its plans with respect to the further development of the non-bank lending platform, are forward-looking statements. These forward-looking statements are based on current information, which the Company has assessed and which by its nature is dynamic and subject to rapid and even abrupt changes. As such, the Company's actual results may differ materially from the results or performance expressed or implied by such forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including (1) the availability of strategic alternatives on acceptable terms, if at all, (2) the limited history of our new lending platform, (3) the substantial risk of loss associated with lending generally, (4) market conditions that may restrict or delay appropriate or desirable non-bank lending opportunities, (5) our ability to develop and maintain necessary processes and controls relating to our non-bank lending platform (6) reliance on one or a small number of employees, (7) potential adverse classifications of our Company if we are unsuccessful in executing our business plan, and (8) those other factors set forth in the Company's Annual Report on Form 10-K, as amended, for the year ended December 31, 2022 and additional risks, if any, identified in our subsequent Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K filed with the SEC. Such forward-looking statements should be read in conjunction with the Company's filings with the SEC. The Company assumes no responsibility to update the forward-looking statements contained in this press release or the reasons why actual results would differ from those anticipated in any such forward-looking statement, other than as required by law.

###

Contact:

Lendway, Inc.
info@lendway.com
800-874-4648

Park Printing
Tim Koloski
timk@parkprint.com
612-789-4333

SOURCE: Lendway, Inc.

View source version on accesswire.com:
https://www.accesswire.com/772255/Insignia-Systems-Inc-Closes-Asset-Sale-of-In-Store-Marketing-Business-To-Park-Printing-Affiliate

SmartAsset
Forget About ‘Timing the Market': Schwab Research Reveals the Optimal Way to Invest
Can investors realistically time the market to maximize returns, especially over the long term? According to a recent study from Charles Schwab, perfect market timing is practically impossible. The firm’s research showed that most investors are better off investing as soon as possible using a buy-and-hold strategy rather than trying to predict short-term peaks and […] The post Forget About ‘Timing the Market’: Schwab Research Reveals the Optimal Way to Invest appeared first on SmartReads by Smar
21h ago
The Wall Street Journal
One Supreme Court Case Could Mess Up Chunks of the Tax Code
WASHINGTON—A case that could punch holes in the federal tax code heads to the Supreme Court on Tuesday. The court will hear arguments in Moore v. U.S., which challenges a piece of the 2017 tax law that imposed a one-time levy on profits that companies had accumulated outside the U.S. But its implications could reach much further, providing the justices an opportunity to define what Congress can tax under the Constitution—and what it can’t. Charles and Kathleen Moore argue that when the law passed, they hadn’t realized income from their investment in an India-based company and thus couldn’t be taxed.
23h ago
TipRanks
Obesity Drugs Have Multi-Billion-Dollar Market Potential, Says Oppenheimer — Here Are 2 Stocks to Take Advantage
A key to success in the stock market is a touch of foresight. Not quite precognition, but an ability to spot and put together clues and trends, to discern the ‘next big thing’ before it hits. This is true in every stock sector, but today we’ll focus on biotech. The biotech firms have famously high product lead times, paired with equally high overhead expenses; it’s a combination that would make them unlikely investments, except that when a drug is approved, it can turn into a blockbuster. Succes
16h ago
Fortune
Charlie Munger warned that a mega-mansion can make you ‘less happy’—and he lived in the same relatively modest house for seven decades
The billionaire investor watched rich friends build “really fancy houses," but "in practically every case, they make the person less happy, not happier."
2d ago
SmartAsset
Ask an Advisor: I'm 67 with $750K in a 401(k). How Can I Preserve This Money for the Rest of My Life?
I am in a quandary about how to invest $750,000 that’s in my 401(k). I'm 67 years old, retired and I have not started taking Social Security yet. What is the best way to preserve this money for the rest of my life that doesn't have high fees? -Terry As you know, the big challenge […] The post Ask an Advisor: I’m 67 with $750K in a 401(k). How Can I Preserve This Money for the Rest of My Life? appeared first on SmartReads by SmartAsset.
21h ago
Fox Business
IRS move could carry hefty cost for some taxpayers
The IRS is raising the interest penalty for underpayment of estimated taxes, with taxpayers who are self-employed or work as independent contractors urged to be vigilant.
13h ago
Investor's Business Daily
Dow Jones Futures Fall; ARM, Palantir Lead 7 Stocks In Buy Areas
Dow Jones futures fell modestly early Monday, along with S&P 500 futures and Nasdaq futures. The stock market rally briefly hinted it might be ready for a pause, as megacaps Meta Platforms, Google parent Alphabet and Nvidia faltered somewhat.
10m ago
Barrons.com
5 Stocks to Play the U.S.-China Chip War, and Why Intel Isn’t One of Them
The U.S.-China rivalry over semiconductor technology is rocking the chips sector. While the tensions pose a headwind for popular chip stocks like Nvidia there are several companies well placed to benefit, according to Citi analysts. Fears over the vulnerability of Taiwan, as well as broader considerations of national security, are driving U.S. and European investment in semiconductor manufacturing.
5h ago
Investor's Business Daily
Alaska Air To Buy Hawaiian Airlines For 270% Premium
Alaska Air will buy Hawaiian Airlines parent Hawaiian Holdings for $18 a share, a 270% premium. The deal is $1.9 billion, including assumed debt.
1h ago
Bloomberg
Chip Materials Maker Goes Into Debt Rather Than Raise Prices
(Bloomberg) -- One of the chipmaking industry’s small but indispensable suppliers is sinking deeper in debt because it’s refusing to raise prices to cover mounting capex costs.Most Read from BloombergHow Suspects Laundered Billions in Singapore for YearsBonds, Stocks in Retreat as Rate Realism Seeps In: Markets WrapBitcoin Surges Past $42,000 as Crypto Rally Gathers SteamHere’s How to Invest in Gold as It Hits an All-Time HighAlaska Air Agrees to Buy Hawaiian in $1.9 Billion DealOsaka-based Fuso
11h ago
Yahoo Finance
What analysts are saying about Wall Street's 2024 outlook
It’s that time of year when Wall Street’s top strategists tell clients where they see the stock market heading in the year ahead. Typically, the average forecast for the group predicts the S&P 500 climbing by about 10%, which is in line with historical averages.
22h ago
Barrons.com
These 11 Stocks Have Been Left Out of the Tech Rally. Maybe Not for Long.
The tech rally looks likely to continue but eventually the gains will have to spread beyond the “Magnificent Seven.” Here are some likely beneficiaries.
5h ago
SmartAsset
Morningstar evaluation: These are the 3 top guaranteed retirement incomes
Generating enough income in retirement to meet your spending needs is crucial. While Social Security provides inflation-protected retirement income, it's simply not enough for many retirees. If you need help planning for retirement, consider working with a financial advisor. John Rekenthaler, … Continue reading → The post Treasury Bonds vs. TIPS Ladders vs. Annuities: Which Strategy Is Best For Retirement Income? appeared first on SmartAsset Blog.
22h ago
SmartAsset
I Want to Convert $500k in My 401(k) to a Roth IRA. How Do I Avoid Paying Taxes?
You can't avoid taxes when making a Roth IRA conversion, but there are strategies to reduce your tax burden if the circumstances are right. When you convert money from a pre-tax account, such as a 401(k) or an IRA, to a post-tax Roth IRA, you must pay income taxes on the full value of the […] The post I Want to Convert $500k in My 401(k) to a Roth IRA. How Do I Avoid Paying Taxes? appeared first on SmartReads by SmartAsset.
50m ago
Reuters
US stock rally could wobble if tensions spike after Red Sea attacks
An attack on an American warship and commercial vessels in the Red Sea on Sunday risks reigniting investor worries about a widening of the war between Israel and Hamas, potentially complicating the outlook for a rally that saw U.S. stocks crest a fresh closing high for the year last week. The Pentagon said it was aware of reports regarding attacks on an American warship and commercial vessels in the Red Sea on Sunday, while Yemen's Houthi group claimed drone and missile attacks on two Israeli vessels in the area.
14h ago
Barrons.com
Gold Price Drops Back. What’s Next for the Precious Metal.
Gold prices dropped back from record highs early on Monday. Some analysts are skeptical of further gains.
2h ago
Reuters
IBM shows new quantum computing chip, targeting 2033 for large systems
International Business Machines on Monday showed a new quantum computing chip and machine that it hopes will serve as the building blocks of much larger systems a decade from now. Researchers around the world are trying to perfect quantum computing, which relies on quantum mechanics to reach computing speeds far faster than classical silicon-based computers. The challenge has been to create quantum computers that are reliable enough in the real world to consistently beat conventional computers.
43m ago
Reuters
Bull market in view after S&P 500 hits fresh year-high
The S&P 500's feverish late-year rally has brought the index to its highest level of 2023, leaving it just 4.2% away from the all-time peak reached in January 2022. A close above 4,796.56 on the S&P 500 would confirm that the index has been in a bull market since bottoming out on Oct. 12, 2022, by one commonly used definition. A look at bull markets of the past suggests that investors should expect stocks to take a breather before marching higher.
2h ago
The Wall Street Journal
Alaska Air Reaches Deal to Buy Hawaiian Airlines
Alaska Air reached a roughly $1 billion deal to buy Hawaiian Airlines a combination of two nearly century-old rivals that are dwarfed by the biggest players in a time of travel upheaval. Executives said the deal would solidify Alaska Airlines’ position as the fifth-largest U.S. carrier. The airlines will retain their separate brands, but said together they will have broader reach, connecting Hawaii to three times as many destinations in the continental U.S. and giving Alaska Air a new hub in Honolulu for flights to Asia.
12h ago
Investopedia
5 Things to Know Before Markets Open
Alaska Air agreed to acquire Hawaiian Airlines in a $1 billion deal that would create the fifth-largest U.S. domestic airline and Spotify shares moved higher after it announced a 17% cut to its workforce. Here’s what investors need to know today.
38m ago

S&P Futures

Dow Futures

Nasdaq Futures

Russell 2000 Futures

Crude Oil

Gold

Silver

EUR/USD

10-Yr Bond

Vix

GBP/USD

USD/JPY

Bitcoin USD

CMC Crypto 200

FTSE 100

Nikkei 225

Insignia Systems, Inc. Closes Asset Sale of In-Store Marketing Business To Park Printing Affiliate

Recommended Stories

Forget About ‘Timing the Market': Schwab Research Reveals the Optimal Way to Invest

One Supreme Court Case Could Mess Up Chunks of the Tax Code

Obesity Drugs Have Multi-Billion-Dollar Market Potential, Says Oppenheimer — Here Are 2 Stocks to Take Advantage

Charlie Munger warned that a mega-mansion can make you ‘less happy’—and he lived in the same relatively modest house for seven decades

Ask an Advisor: I'm 67 with $750K in a 401(k). How Can I Preserve This Money for the Rest of My Life?

IRS move could carry hefty cost for some taxpayers

Dow Jones Futures Fall; ARM, Palantir Lead 7 Stocks In Buy Areas

5 Stocks to Play the U.S.-China Chip War, and Why Intel Isn’t One of Them

Alaska Air To Buy Hawaiian Airlines For 270% Premium

Chip Materials Maker Goes Into Debt Rather Than Raise Prices

What analysts are saying about Wall Street's 2024 outlook

These 11 Stocks Have Been Left Out of the Tech Rally. Maybe Not for Long.

Morningstar evaluation: These are the 3 top guaranteed retirement incomes

I Want to Convert $500k in My 401(k) to a Roth IRA. How Do I Avoid Paying Taxes?

US stock rally could wobble if tensions spike after Red Sea attacks

Gold Price Drops Back. What’s Next for the Precious Metal.

IBM shows new quantum computing chip, targeting 2033 for large systems

Bull market in view after S&P 500 hits fresh year-high

Alaska Air Reaches Deal to Buy Hawaiian Airlines

5 Things to Know Before Markets Open