This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Insignia Systems, Inc. Announces Commencement Of Tender Offer To Purchase Up To $12 Million Of Its Shares, Appointment Of Glen Dall As CEO And Changes To Board Of Directors

Stocks in this article: ISIG

Insignia Systems, Inc. (Nasdaq: ISIG) today announced it has commenced a “modified Dutch auction” tender offer to purchase up to $12 million of its common stock. Under the terms of the tender offer, the Company’s shareholders will have the opportunity to tender some or all of their shares at a price within the range of $2.15 to $2.35 per share. Based on the number of shares tendered and the prices specified by the tendering shareholders, the Company will determine the lowest price per share within that range that will enable it to buy $12 million of its shares, or such lesser number of shares that are properly tendered. All shares accepted for purchase will be purchased at the same price. The Company will not purchase shares below a shareholder’s indicated price, and in some cases, the Company might purchase shares at a price that is above a shareholder’s indicated price under the terms of the tender offer. At the minimum price of $2.15 per share, the Company would purchase a maximum of 5,581,395 shares, which represents approximately 41% of the Company’s currently outstanding common stock.

The Company expects to fund the share purchases in the tender offer from available cash on hand, which as of July 17, 2013, totaled approximately $23 million. After completion of the tender offer, the Company should have over $10 million in cash for future operations and other initiatives. The tender offer is not conditioned upon any minimum number of shares being tendered or the receipt of financing, but it is subject to other customary conditions that are described in the tender offer documents. The tender offer documents, which will be distributed to shareholders beginning on July 18, 2013, contain specific instructions about how to tender shares and a complete explanation of the tender offer’s terms and conditions. Additional copies of the tender offer materials will also be available from the information agent, D.F. King & Co., Inc. The depositary for the tender offer will be Wells Fargo Bank, N.A.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs