Trans-Lux Corp (TNLX)

[Enterprising Investor]

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