Trans-Lux Receives $1.5 Million Investment From Unilumin

Trans-Lux Corporation Board Chairman Salvatore Zizza announced that the company entered into a Securities Purchase Agreement with Unilumin North America Inc.
 
 
Trans-Lux Corporation
Trans-Lux Corporation
 
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NEW YORK - Nov. 8, 2018 - PRLog -- Trans-Lux Corporation Board Chairman Salvatore Zizza announced that the company entered into a Securities Purchase Agreement with Unilumin North America Inc. pursuant to which Unilumin purchased 1,315,789 shares of the Company's Common Stock for a purchase price of $1,500,000.  In connection with the agreement, the Company has issued warrants to Unilumin to purchase 5,670,103 shares of the Company's Common Stock at an exercise price of $0.97 per share, aggregating $5,500,000.  If the Company completes a financing of $2,500,000 through a rights offering by June 1, 2019 and in excess of 90% of the Preferred Stock converts into Common Stock, the warrants are mandatorily exercisable.     If the Company is unable to complete such a rights offering by June 1, 2019, the exercise price of these warrants would be adjusted to $0.75 per share.  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.

"This is an important first step in our relationship with Unilumin as it shows a commitment by both companies to work together going forward," said Mr. Zizza.  "Unilumin's capital commitment will help alleviate many of the balance sheet issues that have been plaguing Trans-Lux in recent years."

"If shareholders will contribute to an upcoming rights offering which will trigger the automatic exercise of the Unilumin warrants, we will finally be in a position to reinvest in our business relationships, resolve our recent cash flow issues, capitalize on our 100-year history and revitalize our business and relationships," added Trans-Lux President and CEO Al Shaio.

For more information, email info@trans-lux.com or visit www.trans-lux.com.

About Trans-Lux


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. Trans-Lux's Fair-Play Scoreboards business unit provides scoreboards and scoring systems within the sports industry, providing comprehensive video display solutions for any size venue's indoor and outdoor display needs. For more information please visit www.Trans-Lux.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements such as "will," "believe," "are projected to be" and similar expressions are statements regarding future events or the future performance of Trans-Lux Corporation, and include statements regarding projected operating results. These forward-looking statements are based on current expectations, forecasts and assumptions and involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements.

Media Contact
Alberto Shaio / President & CEO
ashaio@trans-lux.com
212.897.2224
ashaio@trans-lux.com
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Source:Trans-Lux Corporation
Email:***@trans-lux.com
Tags:Trans-Lux
Industry:Manufacturing
Location:New York City - New York - United States
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