Insignia Systems slides as co, holders plan share sale

Bloomia Holdings

07/02/2022 19:20

** Insignia Systems Inc  ISIG.O  down 13.5% at $12.12 as
in-store digital ad platform and existing investors look to sell
shares
    ** Co late Fri filed https://www.sec.gov/Archives/edgar/data/875355/000165495422001140/isig_s3.htm
 mix of $100 mln stock, stock purchase contracts, warrants,
rights and units for general corporate purposes
    ** Co also disclosed existing investors may sell up to
699,713 shares
    ** ISIG has ~1.8 mln shares outstanding for market cap of
~$25 mln as of close on Fri, per Refinitiv data, and ~1.1 mln
shares of free float
    ** With move on Mon, shares down ~47% YTD
    ** In Dec, stock surged 333%, and became a retail investor
darling. Early that month, co said it was exploring strategic
alternatives, including an acquisition or merger  urn:newsml:reuters.com:*:nL4N2SR3MJ

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))