Enterprising Investor
5 years ago
Form 8-K:
Unregistered Sale of Equity Securities;
On April 5, 2019, Unilumin North America, Inc. (“ Unilumin ”) exercised a warrant (the “ Warrant ”) to purchase 3,608,247 shares of common stock, par value $0.001 (“ Common Stock ”), of Trans-Lux Corporation (the “ Company ”), in connection with the closing of the Company’s Rights Offering (defined below), for aggregate gross proceeds to the Company of $3.5 million. As a result of such exercise, Unilumin currently owns 52.2% of the Company’s outstanding Common Stock.
The Common Stock issued in connection with the exercise of the Warrant was issued in reliance of the exemption from registration contained in Section 4(2) of the Securities Act of 1933, as amended.
Item 8.01 Other Events
On April 5, 2019, the Company completed its previously announced registered rights offering (the “ Rights Offering ”). The Company accepted subscriptions for a total of 2,500,000 shares of its Common Stock, representing approximately all of the shares offered, for aggregate gross proceeds to the Company of $2.5 million. The Company has instructed Continental Stock Transfer & Trust Company, the subscription agent for the Rights Offering and the Company’s transfer agent, to issue the shares and distribute the sale proceeds.
The Company used a portion of the proceeds from the Rights Offering and the exercise of the Warrant by Unilumin to satisfy certain debt obligations including its obligations under its credit and security agreement (“ Credit Agreement ”) with CNH Finance Fund I, L.P., and the Credit Agreement was terminated. The Company will use the remaining proceeds for working capital and general corporate purposes.
Enterprising Investor
5 years ago
Trans-Lux Corp. Completes Significant Investments from Unilumin North America and GAMCO Investors (4/12/19)
NEW YORK, April 12, 2019 – Trans-Lux Corporation (OTCQB: TNLX) (“Trans-Lux” or the “Company”) – a global leader in designing, selling, leasing and maintaining multi-color, real-time data and LED large-screen electronic information displays – today announced that Unilumin North America Inc., a wholly owned subsidiary of the Unilumin Group Co. Ltd (300232.SZ) (“Unilumin”), and GAMCO Investors, Inc. and its affiliates (together, “GAMCO”) have completed a series of previously announced transactions, resulting in Unilumin holding a majority interest of the common shares of Trans-Lux on a fully diluted basis.
The sale of securities to Unilumin, as well as the full exercise of the warrant previously issued, together with the closing of the Company’s previously announced rights offering led by GAMCO, resulted in gross proceeds of $9,500,000 being received, all from the issuance of common shares (the “Proceeds”).
Additionally, Trans-Lux announced that it has restructured FairPlay Corporation as Trans-Lux’s dedicated sports scoring and equipment solutions business. Moving forward, all fixed digit scoreboards, LED displays and related solutions will now be branded under the name Fair-Play.
The Proceeds allow the Company to satisfy its secured obligations in full and greatly enhances working capital going forward. Alberto Shaio, President and Chief Executive Officer, commented:
“This successful equity raise allows Trans-Lux to move forward on a well-capitalized basis with two extremely involved and prominent shareholder groups. The Company can now implement strategic plans, support and grow its dealer network and strengthen its market leading position.”
“This is the start of a new period for Trans-Lux and Fair-Play,” continued Mr. Shaio. “Our game plan is in place, and our future is promising. I’d like to thank Nicholas J. Fazio, Chief Executive Officer of Unilumin North America, Inc. and the entire Unilumin Group, and Mario Gabelli, Chairman and Chief Executive Officer of GAMCO, for their confidence and foresight in seeing the potential of Trans-Lux and Fair-Play.”
Mr. Fazio commented:
“Unilumin is pleased to make its strategic investment in Trans-Lux. Together with the entire Unilumin Group, we will endeavor to help grow the Company for the benefit of all stakeholders. Unilumin is committed to the North American Market and we look forward to continue to grow our position.”
About Trans-Lux
Founded in 1920 by Percy Furber, Trans-Lux Corporation is a leading manufacturer and innovator of LED small and large pitch LED digital video displays and data walls, serving primarily the financial, entertainment, retail, gaming, education, government, and commercial markets. For more information please visit www.Trans-Lux.com.
About FairPlay Corporation
Fair-Play is a dedicated manufacturer of sports scoring solutions ranging from fixed digit displays, indoor and outdoor LED video displays and basketball scorer’s tables deployed in NBA, college and high schools. Fair-Play is a proud partner of USA Basketball and sells primarily through its extensive dealer network throughout the world. For more information please visit www.fair-play.com.
About Unilumin North America, Inc.
Founded in 2004, Unilumin is a leading LED application products and integrated solutions provider dedicated in LED product development, manufacturing, sales and after-sales service. With a corporate vision of “Together, for a brighter future,” Unilumin delivers high quality, high performance LED products and solutions, including full-color LED displays and LED lighting. For more information please visit www.unilumin.com.
About GAMCO Investors, Inc.
Since its founding in 1976 as an institutional research firm, GAMCO has evolved into a diversified global financial services company offering an extensive range of investment capabilities. The driving force of its success has been its intense research-driven culture. The keys to its success are the same today as they were in 1976: a focus on fundamental bottom-up research, a consistent investment process and a commitment to generating superior risk-adjusted returns. For more information please visit www.gabelli.com.
https://www.sec.gov/Archives/edgar/data/99106/000151316219000097/exhibit99_1.htm
Enterprising Investor
5 years ago
Let’s make a side deal (3/06/19)
Entry into Material Definitive Agreement
On March 4, 2019, Trans-Lux Corporation (the “Company”) and Unilumin North America, Inc. (“Unilumin”) entered into a side letter to the Securities Purchase Agreement dated as of November 2, 2018 (the “Side Letter”). The Side Letter provides, among other things, (i) the extension of the expiration date of the Company’s $2,500,000 rights offering from March 1, 2019 to April 5, 2019 (the “Rights Offering”); (ii) the exercise by Unilumin on March 4, 2019 of Warrants to purchase 2,061,856 shares of Common Stock which was conditioned upon the conversion of at least 91% of the Company’s outstanding Series B Convertible Preferred Stock into Common Stock; and (iii) the exercise by Unilumin of Warrants to purchase 3,608,247 shares of Common Stock simultaneously with the closing of the Rights Offering.
On March 1, 2019, and effective February 28, 2019, the Company and certain of its subsidiaries entered into a Forbearance Agreement to Credit and Security Agreement (the “Forbearance Agreement”) with CNH Finance Fund I, L.P. (formerly known as SCM Specialty Finance Opportunities Fund (“Lender”). The Forbearance Agreement provides that the Lender will forbear from declaring previous events of default provided, among other things, that (i) the Company makes payment in full by March 10, 2019 of all of its obligations under the Revolving Facility (approximately $910,000); (ii) the Company consummates an equity raise of at least $9.5 million, inclusive of $1,500,000 previously raised in November 2018 from Unilumin’s purchase of Common Stock and $2,000,000 the Company received from the Warrant exercise described above; and (iii) by April 15, 2019, the Company makes payment in full of the amounts owed under the Term Loan (approximately,$540,000).
The Company issued 2,061,856 shares of Common Stock pursuant to the exercise of the Warrant and 1,586,400 shares of Common Stock pursuant to the conversion of Series B Preferred Stock. The Series B Convertible Stock converted constituted 96.1% of the Company’s outstanding Series B Convertible Preferred Stock.
As a result of such issuances, Unilumin and GAMCO (and affiliated entities) currently own approximately 46.4% and 28.4%, respectively, of the Company’s outstanding Common Stock, exclusive of Common Stock underlying derivative securities.
The Common Stock issued in connection with the exercise of the Warrant and the conversion of the Series B Convertible Preferred Stock was issued in reliance of the exemption from registration contained in Section 4(2) of the Securities Act of 1933, as amended.
On February 19, 2019, an aggregate of $35,000 principal amount of the Company’s outstanding 8¼% Limited Convertible Senior Subordinated Notes due 2012 were redeemed by the Company for $7,000.
https://www.sec.gov/Archives/edgar/data/99106/000151316219000057/form8k.htm
Enterprising Investor
5 years ago
Unilumin North America Inc invests $1.5 million (11/08/18)
As previously disclosed in the public filings of Trans-Lux Corporation (the “Company”), the Company lacked adequate liquidity to operate its business over the next 12 months and the audit report in the Company’s audited Consolidated Financial Statements for the fiscal year ended December 31, 2017 contained a going concern qualification. Accordingly, on November 2, 2018, the Company entered into a Securities Purchase Agreement (the “SPA”) with Unilumin North America Inc. (“Unilumin”), pursuant to which Unilumin purchased 1,315,789 shares of the Company’s Common Stock, par value $0.001 per share (“Common Stock”), for a purchase price of $1,500,000 (the “Purchase”), or a per share purchase price of $1.14. The SPA requires that the proceeds of the Purchase are to be utilized for mutually agreed purposes. In connection with the SPA, the Company issued warrants (the “Warrants”) to purchase 5,670,103 shares of the Company’s Common Stock to Unilumin at an exercise price of $0.97 per share. The exercise price of the Warrants is automatically adjusted to $0.75 per share if the Company is unable to complete a financing of $2,500,000 through a rights offering by June 1, 2019 (the “Rights Offering”). The exercise price of the Warrants will also be decreased to the same price as the exercise price of the rights issued in the Rights Offering if the exercise price of such rights is less than $1.00 per share.
The Warrants are exercisable until November 2, 2020, provided that they are mandatorily exercisable upon completion of the Rights Offering if in excess of 90% of the Company’s currently issued and outstanding Series B Convertible Preferred Stock (“Preferred Stock”) converts into Common Stock. In connection with any such Preferred Stock conversion, Unilumin acknowledged that the conversion price of the Preferred Stock may be decreased, subject to stockholder approval. In addition, Unilumin has the right to appoint to two Directors to the Company’s Board of Directors. Unilumin has designated Yang Liu and Nicholas Fazio and the Company will amend this Form 8-K to provide the information required under Item 5.02 (d) of Form 8-K.
If all or a significant portion of the Warrants are exercised, Unilumin would own in excess of fifty percent of the Company’s outstanding Common Stock on a fully diluted basis, even if the Rights Offering is completed.
The Shares and Warrants were issued and granted to Unilumin pursuant to the exemption from registration contained in Section 4(2) of the Securities Act of 1933, as amended.
https://www.sec.gov/Archives/edgar/data/99106/000151316218000282/form8k.htm
Enterprising Investor
8 years ago
Trans-Lux Corporation Announces PBGC's Release of Lien on its Assets and Comprehensive Credit Agreement (7/25/16)
NEW YORK, July 25, 2016 /PRNewswire/ -- Trans-Lux Corporation (OTC: TNLX), a leading supplier of innovative display and energy efficiency solutions, announced today that the Pension Benefits Guaranty Corporation ("PBGC") has elected to not refile a general lien against the Company's assets. The liens have been in effect for over three (3) years.
The Company also announced that it has entered into a three year Credit and Security Agreement with SCM Specialty Finance Opportunities Fund, L.P. Under the Agreement, Trans-Lux can borrow up to an aggregate of $4 million, which includes up to $3 million of a revolving loan (at an interest rate of prime plus 4%) and a $1 million term loan (at an interest rate of prime plus 6%) for the purchase of equipment. The announcements were made by J.M. Allain, President and CEO of Trans-Lux.
"The announcements we are making today show a clear new confidence in our financials and our future. The PBGC decision and the financing facility in particular come after an exhaustive review of our business and our forecast. We are pleased that we see concrete fruits of our labor relating to the comprehensive restructuring we began some time ago," said Mr. Allain.
The Company has worked very closely with the PBGC over the past 5 years to ensure the viability and health of the Company's pension plan. The Company has contributed over $4 million into the plan over the past 5 years. A portion of the proceeds from the revolving loan were used to make an additional $300,000 contribution to the pension plan.
While the majority of the funds under the revolving loan will be used as working capital, the term loan will be used to purchase new leading edge manufacturing equipment to support display production. The Company is purchasing a panel bender, a laser and a brake press manufactured by Italian company Prima Power.
"The new equipment, to be located at our new facility in Hazelwood, MO, will be integral to creating a unique production facility capable of manufacturing top quality products with lead times unequaled in the marketplace," concluded Mr. Allain.
About Trans-Lux
Trans-Lux Corporation is a leading designer and manufacturer of TL Vision digital video displays and TL Energy LED lighting solutions for the financial, sports and entertainment, gaming, education, government, and commercial markets. With a comprehensive offering of LED Large Screen Systems, LCD Flat Panel Displays, Data Walls and scoreboards (marketed under Fair-Play by Trans-Lux), Trans-Lux delivers comprehensive video display solutions for any size venue's indoor and outdoor display needs. TL Energy enables organizations to greatly reduce energy related costs with green lighting solutions. For more information, please visit www.Trans-Lux.com or email info@trans-lux.com.
http://www.prnewswire.com/news-releases/trans-lux-corporation-announces-pbgcs-release-of-lien-on-its-assets-and-comprehensive-credit-agreement-300303619.html
Enterprising Investor
8 years ago
Trans-Lux Corporation Announces Results of its Offer to Purchase Outstanding Notes and Debentures (7/25/16)
New York, NY, July 25, 2016 – Trans-Lux Corporation (OTC: TNLX), a leading supplier of innovative display and energy efficiency solutions, announced today the final results of its offers to purchase all of its outstanding 8¼% Notes and 9½% Debentures due 2012 for cash at a purchase price of $0.20 for each dollar of principal of each Note and Debenture outstanding, without interest. The Company accepted validly tendered Notes and Debentures having an aggregate principal value of $353,000, and forwarded to DTC the corresponding consideration to complete the purchase. The announcement was made by J.M. Allain, President and CEO of Trans-Lux.
“When these Notes and Debentures were near maturity in 2011, we had over $11.1 million outstanding; today, we have only $607,000 remaining outstanding. Moreover, we continue to seek out holders with the goal of settling 100% of our obligations,” said Mr. Allain.
About Trans-Lux
Trans-Lux Corporation is a leading designer and manufacturer of TL Vision digital video displays and TL Energy LED lighting solutions for the financial, sports and entertainment, gaming, education, government, and commercial markets. With a comprehensive offering of LED Large Screen Systems, LCD Flat Panel Displays, Data Walls and scoreboards (marketed under Fair-Play by Trans-Lux), Trans-Lux delivers comprehensive video display solutions for any size venue’s indoor and outdoor display needs. TL Energy enables organizations to greatly reduce energy related costs with green lighting solutions. For more information, please visit www.Trans-Lux.com or email info@trans-lux.com.
http://www.prnewswire.com/news-releases/trans-lux-corporation-announces-results-of-its-offer-to-purchase-outstanding-notes-and-debentures-300303616.html
Enterprising Investor
8 years ago
Trans-Lux Reports Significantly Improved Results And Positive EBIDTA (3/30/16)
NEW YORK, March 30, 2016 /PRNewswire/ -- Trans-Lux Corporation (OTC: TNLX) ("Trans-Lux" or the "Company"), a leading supplier of Digital Displays and next generation LED lighting, yesterday reported significantly improved financial results for both the fourth quarter and the year ended December 31, 2015. Trans-Lux President and Chief Executive Officer J.M. Allain made the announcement while also stating that both the fourth quarter and the year had positive EBITDA.
Year Ended December 31, 2015
Revenues for 2015 totaled $23.6 million, down a slight 3.3% from $24.4 million for 2014. Loss for the year of 2015 was $1.7 million (loss of $1.06 per share), compared with a loss of $4.6 million (loss of $3.38 per share) in 2014. The Company had positive EBITDA of $1.0 million for the year ended December 31, 2015, compared with negative EBITDA of $1.4 million for 2014. Despite slightly lower revenues, both gross profit and gross margin were higher in 2015. Lower selling, general and administrative expenses also contributed to the improved operating results. The Company's audited consolidated financial statements for the fiscal year ended December 31, 2015 were included in the Company's Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission yesterday.
"The Company had a number of successes in 2015 including improving gross margins, lowering operating expenses and raising $3.3 million in equity capital with a rights offering in November," said Mr. Allain. "As we begin to move into 2016, our focus will now shift to increasing revenues by expanding our product line, promoting our brand and establishing new channel partners."
Fourth Quarter 2015
Revenues for the fourth quarter of 2015 totaled $5.0 million, compared with $5.9 million for the fourth quarter of 2014. Trans-Lux recorded a loss for the fourth quarter of 2015 of $659,000 (loss of $0.41 per share), compared to a loss of $1.6 million (loss of $0.92 per share) in the fourth quarter of 2014. The Company had positive EBITDA of $22,000 for the quarter ended December 31, 2015, compared with negative EBITDA of $844,000 for the same period in 2014. As with the full year, improved gross margins and lower operating expenses were the primary reasons for the improved operating results and positive EBIDTA in the fourth quarter.
For more information, email info@trans-lux.com or visit www.trans-lux.com.
About Trans-Lux
Trans-Lux Corporation is a leading designer and manufacturer of TL Vision digital video displays and TL Energy LED lighting solutions for the financial, sports and entertainment, gaming, education, government, and commercial markets. With a comprehensive offering of LED Large Screen Systems, LCD Flat Panel Displays, Data Walls and scoreboards (marketed under Fair-Play by Trans-Lux), Trans-Lux delivers comprehensive video display solutions for any size venue's indoor and outdoor display needs. TL Energy enables organizations to greatly reduce energy related costs with green lighting solutions. For more information please visit www.Trans-Lux.com.
[tables deleted]
http://www.prnewswire.com/news-releases/trans-lux-reports-significantly-improved-results-and-positive-ebidta-300243516.html
Enterprising Investor
8 years ago
Trans-Lux completes Sale-Leaseback (2/01/16)
Trans-Lux Midwest Corporation (“Trans-Lux Midwest”), a wholly owned subsidiary of Trans-Lux Corporation (the “Company”) consummated a sale-lease back transaction relating to its facility in Des Moines, Iowa. Under the terms of the sale-lease back, Trans-Lux Midwest sold its property in Des Moines, Iowa to Penta Partners, LLC for approximately $1,100,000 and as part of the transaction, Trans-Lux Midwest’s outstanding mortgage obligation of $329,000 was paid-in-full. In conjunction with sale, the Company entered into a two-year lease at the facility effective as of February 1, 2016 at an annual base rental of $157,380.
https://www.sec.gov/Archives/edgar/data/99106/000151316216000698/form8k.htm
Enterprising Investor
8 years ago
Trans-Lux Announces Completion of Note Exchange (12/24/15)
On December 22, 2015, Trans-Lux Corporation consummated a Exchange Agreements with fourteen holders of the Company’s 8 ¼% Limited Convertible Senior Series Subordinated Notes due 2012. The Exchange Agreements provided that an aggregate of $457,000 of principal under the Notes would be exchanged for an aggregate of $228,500 and an aggregate of 38,082 shares of the Company’s Common Stock, $.001 par value per share.
Holders received a cash payment of $500 and 83.33 shares of common stock of the Company, for each $1,000 principal amount of the Notes.
The stock would be valued at $6.00 per share based on the remaining $500 in principal amount exchanged.
http://www.sec.gov/Archives/edgar/data/99106/000092189515002862/ex991to8k08150005_12242015.htm
Enterprising Investor
8 years ago
Trans-Lux Corporation Announces Completion of Rights Offering (11/20/15)
NEW YORK, Nov. 20, 2015 /PRNewswire/ -- Trans-Lux Corporation (OTC Pink: TNLX) ("Trans-Lux"), a leading supplier of Digital Displays and next generation LED lighting, today announced the completion of its rights offering, which expired at 5:00 p.m., Eastern Time, on November 19, 2015.
The Company received subscriptions and over-subscriptions for a total of 16,512 shares of its Series B Convertible Preferred Stock, representing approximately 33% of the shares offered. All of the subscriptions and over-subscriptions were accepted, for aggregate gross proceeds to the Company of approximately $3.3 million. The Company expects Continental Stock Transfer & Trust Company, the subscription agent for the rights offering, to begin distributing the shares and the sale proceeds early next week.
The Series B Convertible Preferred Stock carries a 6.0% cumulative annual dividend and is convertible into shares of common stock at an initial conversion price of $10.00 per share, representing a conversion ratio of 20 shares of common stock for each share of Series B Convertible Preferred Stock held at the time of conversion, subject to adjustment. The shares of Series B Convertible Preferred Stock may be subject to mandatory conversion after three years, or as early as one year if the closing sale price of the common stock has been greater than or equal to $15.00 for 30 consecutive trading days.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, and there will be no sale of any securities in any state in which such an offer, solicitation, or purchase would be unlawful prior to the registration or qualification of such securities under the securities laws of any such state. The offer of the shares of Series B Convertible Preferred Stock issuable upon exercise of the rights was made only by means of the prospectus dated October 14, 2015 forming a part of Trans-Lux's registration statement filed with and declared effective by the SEC, and related documents.
About Trans-Lux
Trans-Lux Corporation is a leading designer and manufacturer of TL Vision digital video displays and TL Energy LED lighting solutions for the financial, sports and entertainment, gaming, education, government, and commercial markets. With a comprehensive offering of LED Large Screen Systems, LCD Flat Panel Displays, Data Walls and scoreboards (marketed under Fair-Play by Trans-Lux), Trans-Lux delivers comprehensive video display solutions for any size venue's indoor and outdoor display needs. TL Energy enables organizations to greatly reduce energy related costs with green lighting solutions. For more information please visit www.Trans-Lux.com.
http://www.prnewswire.com/news-releases/trans-lux-corporation-announces-completion-of-rights-offering-300182606.html
Enterprising Investor
8 years ago
Trans-Lux Corporation Announces Extension of Rights Offering (11/05/15)
NEW YORK, Nov. 5, 2015 /PRNewswire/ -- Trans-Lux Corporation (OTC Pink: TNLX) ("Trans-Lux"), a leading supplier of Digital Displays and next generation LED lighting, today announced that it has extended the expiration date of its previously announced rights offering to 5:00 p.m., Eastern Time, on November 19, 2015.
Under the terms of the rights offering, Trans-Lux distributed one non-transferable subscription right to purchase shares of its Series B Convertible Preferred Stock for each share of Trans-Lux's common stock owned at 5:00 p.m., Eastern Time, on September 28, 2015, the record date for the rights offering. 33 subscription rights entitle the holder to purchase one share of Series B Convertible Preferred Stock at a subscription price of $200.00 per share. The rights offering also includes an over-subscription right, which entitles each rights holder that exercises its basic subscription rights in full to purchase additional shares of Series B Convertible Preferred Stock that remain unsubscribed at the expiration of the rights offering, subject to certain limitations.
If all of the subscription rights are exercised and all the shares of Series B Convertible Preferred Stock offered are sold, the gross proceeds from the rights offering will be approximately $10.2 million. Trans-Lux intends to use the net proceeds from the rights offering for the repayment of certain debt and for payment of certain required contributions under its defined benefit pension plan, with the remainder to be used for general corporate purposes.
The Series B Convertible Preferred Stock carries a 6.0% cumulative annual dividend and is convertible into shares of common stock at an initial conversion price of $10.00 per share, representing a conversion ratio of 20 shares of common stock for each share of Series B Convertible Preferred Stock held at the time of conversion, subject to adjustment. The shares of Series B Convertible Preferred Stock may be subject to mandatory conversion after three years, or as early as one year if the closing sale price of the common stock has been greater than or equal to $15.00 for 30 consecutive trading days.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, and there will be no sale of any securities in any state in which such an offer, solicitation, or purchase would be unlawful prior to the registration or qualification of such securities under the securities laws of any such state. The offer of the shares of Series B Convertible Preferred Stock issuable upon exercise of the rights is made only by means of the prospectus dated October 14, 2015 forming a part of Trans-Lux's registration statement filed with and declared effective by the SEC, and related documents. A copy of the prospectus may be obtained, free of charge, on the SEC website at www.sec.gov, or by contacting the information agent for the rights offering, Morrow & Co., LLC, by email at tnlx.info@morrowco.com or by telephone at (800) 662-5200. Banks and brokerage firms also may contact Morrow & Co., LLC at (203) 658-9400. Before you invest, you should carefully read the prospectus and other documents Trans-Lux has filed with the SEC for more complete information about Trans-Lux and the rights offering.
About Trans-Lux
Trans-Lux Corporation is a leading designer and manufacturer of TL Vision digital video displays and TL Energy LED lighting solutions for the financial, sports and entertainment, gaming, education, government, and commercial markets. With a comprehensive offering of LED Large Screen Systems, LCD Flat Panel Displays, Data Walls and scoreboards (marketed under Fair-Play by Trans-Lux), Trans-Lux delivers comprehensive video display solutions for any size venue's indoor and outdoor display needs. TL Energy enables organizations to greatly reduce energy related costs with green lighting solutions. For more information please visit www.Trans-Lux.com.
http://www.prnewswire.com/news-releases/trans-lux-corporation-announces-extension-of-rights-offering-300172977.html
Enterprising Investor
8 years ago
GAMCO not acting as standby investor but plans to oversubscribe.
Item 4 to Schedule 13D is amended, in pertinent part, as follows:
Gabelli Funds, LLC ("Gabelli Funds") and Teton Advisors, Inc. ("Teton Advisors"), on behalf of their respective clients, are announcing today that they are fully subscribing to the Issuer's rights offering ("Rights Offering"). The Gabelli Small Cap Growth Fund is considering oversubscribing to the Rights Offering. Gabelli Funds and Teton Advisors anticipate investing, on behalf of their respective clients, approximately three million dollars in the Rights Offering's primary and oversubscription.
Gabelli appears committed to acquiring at least 29 percent of the offering.
Enterprising Investor
9 years ago
New Record Date for Rights Offering (10/01/15)
On October 1, 2015, Trans-Lux Corporation (the “Company”) announced changes to the timeline for its previously announced rights offering to holders of its common stock to purchase shares of a new class of Series B Convertible Preferred Stock of the Company (the “Series B Convertible Preferred Stock”). The Company has set a new record date for the rights offering of 5:00 p.m., Eastern Time, on October 12, 2015. The Company now intends to commence the rights offering on October 14, 2015, with the subscription period expiring at 5:00 p.m., Eastern Time, on November 4, 2015, unless extended. The other terms of the rights offering, including but not limited to the subscription price per share and the number of rights required to purchase one share of Series B Convertible Preferred Stock, and the terms of the Series B Convertible Preferred Stock, remain the same.
http://www.sec.gov/Archives/edgar/data/99106/000092189515002180/form8k08150004_10012015.htm
Enterprising Investor
9 years ago
Trans-Lux Corporation Announces Terms for Rights Offering (9/15/15)
NEW YORK, NY--(Marketwired - Sep 15, 2015) - Trans-Lux Corporation (OTC PINK: TNLX) ("Trans-Lux"), a leading supplier of Digital Displays and next generation LED lighting, today announced the terms for its previously announced rights offering to holders of shares of its common stock.
Upon commencement of the rights offering on or about October 1, 2015, Trans-Lux plans to distribute one non-transferable subscription right to purchase shares of a new class of Series B Convertible Preferred Stock for each share of Trans-Lux's common stock owned at 5:00 p.m., Eastern Time, on September 28, 2015, the record date for the rights offering. 33 subscription rights will entitle the holder to purchase one share of Series B Convertible Preferred Stock at a subscription price of $200.00 per share, with the subscription period expiring at 5:00 p.m., Eastern Time, on October 21, 2015, unless extended. The rights offering also will include an over-subscription right, which will entitle each rights holder that exercises its basic subscription rights in full to purchase additional shares of Series B Convertible Preferred Stock that remain unsubscribed at the expiration of the rights offering, subject to certain limitations.
If all of the subscription rights are exercised and all the shares of Series B Convertible Preferred Stock offered are sold, the gross proceeds from the rights offering will be approximately $10.2 million. Trans-Lux intends to use the net proceeds from the rights offering for the repayment of certain debt and for payment of certain required contributions under its defined benefit pension plan, with the remainder to be used for general corporate purposes.
The Series B Convertible Preferred Stock carries a 6.0% cumulative annual dividend and will be convertible into shares of common stock at an initial conversion price of $10.00 per share, representing a conversion ratio of 20 shares of common stock for each share of Series B Convertible Preferred Stock held at the time of conversion, subject to adjustment. The shares of Series B Convertible Preferred Stock may be subject to mandatory conversion after three years, or as early as one year if the closing sale price of the common stock has been greater than or equal to $15.00 for 30 consecutive trading days.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, and there will be no sale of any securities in any state in which such an offer, solicitation, or purchase would be unlawful prior to the registration or qualification of such securities under the securities laws of any such state. The offer of the shares of Series B Convertible Preferred Stock issuable upon exercise of the rights to be distributed in the proposed rights offering will be made only by means of the prospectus forming a part of Trans-Lux's registration statement filed with the SEC, following receipt of notice of effectiveness of the registration statement from the SEC, and related documents.
About Trans-Lux
Trans-Lux Corporation is a leading designer and manufacturer of TL Vision digital video displays and TL Energy LED lighting solutions for the financial, sports and entertainment, gaming, education, government, and commercial markets. With a comprehensive offering of LED Large Screen Systems, LCD Flat Panel Displays, Data Walls and scoreboards (marketed under Fair-Play by Trans-Lux), Trans-Lux delivers comprehensive video display solutions for any size venue's indoor and outdoor display needs. TL Energy enables organizations to greatly reduce energy related costs with green lighting solutions. For more information please visit www.Trans-Lux.com.
http://www.marketwired.com/press-release/trans-lux-corporation-announces-terms-for-rights-offering-otc-pink-tnlx-2055701.htm
Enterprising Investor
9 years ago
Trans-Lux Corporation Announces Plan for Rights Offering of Preferred Shares (6/25/15)
NEW YORK, NY--(Marketwired - Jun 26, 2015) - Trans-Lux Corporation (OTC PINK: TNLX) ("Trans-Lux" or the "Company"), a leading supplier of Digital Products and next generation LED lighting, announced today that it intends to conduct a rights offering to holders of its common stock to sell a new class of preferred shares for proceeds of up to approximately $10 million, before expenses. The announcement was made by Trans-Lux CEO and President, J.M. Allain.
In to the rights offering, Trans-Lux plans to distribute to holders of the Company's common stock transferable subscription rights to purchase shares of a new class of Series B Convertible Preferred Stock (the "Series B Preferred"), which will carry a 5% annual dividend and will be convertible into shares of common stock. The rights offering also will include an over-subscription right, which will entitle each rights holder that exercises their basic subscription rights in full the right to purchase additional shares of Series B Preferred that remain unsubscribed at the expiration of the rights offering, subject to allotment.
The Company intends to use the proceeds of the rights offering for repayment of certain debt and for general corporate purposes.
"While we have done much to firm up our balance sheet over the past three years, we have been handicapped by a lack of working capital. We believe that the proposed rights offering will put us in a very good position to grow our current vertical markets, and also allow us to capitalize on the burgeoning LED Lighting market," said Mr. Allain.
The Company filed a registration statement relating to the rights offering with the Securities and Exchange Commission (the "SEC") on June 25, 2015, and commencement of the rights offering is expected to occur promptly following the effectiveness of that registration statement. The final terms of the rights offering and the Series B Preferred, including the subscription price per share, the record and expiration dates and the conversion ratio for the Series B Preferred, will be included in the final prospectus relating to the rights offering that will be filed with the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification of the securities under the securities laws of such state or jurisdiction.
About Trans-Lux
Trans-Lux Corporation is a leading designer and manufacturer of TL Vision digital video displays and TL Energy LED lighting solutions for the financial, sports and entertainment, gaming, education, government, and commercial markets. With a comprehensive offering of LED Large Screen Systems, LCD Flat Panel Displays, Data Walls and scoreboards (marketed under Fair-Play by Trans-Lux), Trans-Lux delivers comprehensive video display solutions for any size venue's indoor and outdoor display needs. TL Energy enables organizations to greatly reduce energy related costs with green lighting solutions. For more information please visit www.Trans-Lux.com.
http://www.marketwired.com/press-release/trans-lux-corporation-announces-plan-for-rights-offering-of-preferred-shares-otc-pink-tnlx-2033663.htm
stocktrademan
10 years ago
$TNLX recent news/filings
bullish
## source: finance.yahoo.com
Thu, 14 Aug 2014 21:07:32 GMT ~ TRANS LUX CORP Files SEC form 10-Q, Quarterly Report
read full: http://biz.yahoo.com/e/140814/tnlx10-q.html
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Tue, 08 Jul 2014 13:00:00 GMT ~ Trans-Lux and Retop Collaboration Combines Core Resources
[Marketwired] - Trans-Lux Corporation President and CEO J.M. Allain announced today that the company has entered into a broad ranged exclusive collaboration with Retop Industrial Limited . Retop is the industry's leading ...
read full: http://finance.yahoo.com/news/trans-lux-retop-collaboration-combines-130000666.html
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Wed, 25 Jun 2014 17:04:10 GMT ~ TRANS LUX CORP Financials
read full: http://finance.yahoo.com/q/is?s=tnlx
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Tue, 24 Jun 2014 10:02:30 GMT ~ TRANS LUX CORP Files SEC form 8-K, Material Modification to Rights of Security Holders
read full: http://biz.yahoo.com/e/140624/tnlx8-k.html
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Wed, 18 Jun 2014 21:24:14 GMT ~ TRANS LUX CORP Files SEC form 8-K, Results of Operations and Financial Condition
read full: http://biz.yahoo.com/e/140618/tnlx8-k.html
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$TNLX charts
basic chart ## source: eoddata.com
$TNLX company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/TNLX/company-info
Ticker: $TNLX
OTC Market Place: OTCQB
CIK code: 0000099106
Company name: Trans-Lux Corp.
Company website: http://www.trans-lux.com
Incorporated In: DE, USA
Business Description: Trans-Lux Corporation is a 90-year-old company with a new vision to be the premier supplier of digital display solutions for the financial, sports and entertainment, gaming, leasing and myriad markets where digital signage is a viable business tool. To drive new growth and business development, Trans-Lux has expanded its portfolio of products with a new generation of LED Large Screen Systems that offer breakthrough performance and technology, and create a larger and more prominent market position. Additionally, Trans-Lux has reinvented virtually every aspect of its operations to accommodate continued expansion into new markets.Less >>
$TNLX share structure
## source: otcmarkets.com
Market Value: Not Available
Shares Outstanding: Not Available
Float: Not Available
Authorized Shares: Not Available
Par Value: 1
$TNLX extra dd links
Company name: Trans-Lux Corp.
Company website: http://www.trans-lux.com
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=TNLX+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=TNLX+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=TNLX+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/TNLX/news - http://finance.yahoo.com/q/h?s=TNLX+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/TNLX/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/TNLX/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=TNLX+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/TNLX
DTCC (dtcc.com): http://search2.dtcc.com/?q=Trans-Lux+Corp.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Trans-Lux+Corp.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Trans-Lux+Corp.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.trans-lux.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.trans-lux.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.trans-lux.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/TNLX
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000099106&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/TNLX/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/TNLX/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=TNLX&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=TNLX
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/TNLX/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=TNLX+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=TNLX+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=TNLX
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=TNLX
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=TNLX+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/TNLX/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=TNLX+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/TNLX.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=TNLX
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/TNLX/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/TNLX/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/TNLX
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/TNLX
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/TNLX:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=TNLX
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=TNLX
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Renee
10 years ago
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