NORWALK, CT--(Marketwire - Feb 13, 2013) - Trans-Lux Corporation (OTCQB: TNLX), a leading supplier of Digital Displays and next generation LED lighting, today announced that its registration statement on Form S-1 was declared effective by the Securities and Exchange Commission. Trans-Lux President and Chief Executive Officer J.M. Allain made the announcement.
The registration statement permits the holders of the Company's securities which were obtained in November 2011 in a private offering exempt from registration under the Securities Act of 1933, as amended, in connection with the restructuring of the Company's then outstanding debt, to sell such securities in accordance with the terms of the registration statement and applicable law. The holders will offer their shares at a fixed price of $0.39 per share until the Company's common shares are quoted on the Over-the-Counter Bulletin Board, and thereafter, at prevailing market prices or privately negotiated prices. The Company will not receive any proceeds from the sale of these shares by the selling stockholders.
"We are pleased that the holders of these securities may now actively participate in the selling market for Trans-Lux common shares and that the holders who choose to exercise the warrants they have obtained through the private placement will receive freely tradable common shares," said Mr. Allain.
This press release does not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities.
For more information, email email@example.com or visit www.trans-lux.com.
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.
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.