ISIG - Insignia Systems announces reverse stock split

Insignia Systems ([[ISIG]] -5.0%)  has announced a 1-for-7 reverse split of its outstanding common stock, effective 5:00 p.m. central time today.The Company's common stock will trade on the Nasdaq under the symbol "ISIG" on January 4, 2021 on a post-split basis.The split was intended to bring the company into compliance with the minimum bid price requirement to maintain the listing of its common stock on the Nasdaq Capital Market.On account of the consolidation, every seven shares of issued and outstanding common stock at the close of business on December 31, 2020 automatically will be combined into one issued and outstanding share of common stock, thereby reducing the number of shares of common stock issued and outstanding 40M to ~5.7M shares.No fractional shares will be issued as a result of the reverse stock split and any fractional shares that will result from the reverse stock split will be cancelled in exchange for the payment of cash consideration.

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Insignia Systems announces reverse stock split