Insignia Systems closes asset sale of in-store marketing business

Lendway, formerly Insignia Systems, 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. Reflecting the Company’s transition to non-bank lending, Randy Uglem was promoted to President and CEO effective August 4, 2023