Trans-Lux Corp (TNLX)

[Enterprising Investor]

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