---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-007204"
form_type: "8-K"
ticker: "TULP"
cik: "0000875355"
company_name: "BLOOMIA HOLDINGS, INC."
filed_at: "2023-05-25T23:59:59+00:00"
generated_at: "2026-06-14T15:21:52.824642+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Insignia Systems to sell in-store marketing business to Park Printing affiliate for $3.5M cash

## Summary
- Asset sale price $3.5M cash, subject to post-closing adjustments; expected to close H2 2023.
- Shareholders representing ~43.8% of shares signed support agreements to vote in favor of the deal.
- CEO Kristine Glancy receives $78,650 at closing; CSO Adam May eligible for $65K plus $65K if stays with buyer.
- Company anticipates losses in remaining 2023 quarters and full-year loss; retains non-bank lending business.
- Purchase agreement includes $175,000 termination fee for certain circumstances.

## SEC filing metadata
- accession: 0001654954-23-007204
- form_type: 8-K
- ticker: TULP
- cik: 0000875355
- company_name: BLOOMIA HOLDINGS, INC.
- filed_at: 2023-05-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/875355/000165495423007204/0001654954-23-007204-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/875355/000165495423007204/isig_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-007204
- JSON: https://secwatch.observer/filing/0001654954-23-007204.json
- Plain text: https://secwatch.observer/filing/0001654954-23-007204.txt

## Key facts
- Executive change
  Adam D. May departed as Chief Sales Officer at BLOOMIA HOLDINGS, INC..
  - Action: terminate his employment
  - Role: Chief Sales Officer
  source text: Adam D. May, our Chief Sales Officer, is expected to terminate his employment with the Company and become an employee of the Buyer as of the Closing.
  evidence_url: https://www.sec.gov/Archives/edgar/data/875355/000165495423007204/0001654954-23-007204-index.htm
- Material Agreements
  BLOOMIA HOLDINGS, INC. entered into Purchase Agreement with TIMIBO LLC valued at cash purchase price of $3.5 million (effective 2023-05-24).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: TIMIBO LLC
  - Value: cash purchase price of $3.5 million
  - Effective: 2023-05-24
  source text: On May 24, 2023, Insignia Systems, Inc. (the “Company”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with TIMIBO LLC (“Buyer”), an affiliate of Park Printing, Inc. (“Park”), pursuant to which the Company has agreed to sell substantially all of its assets and certain liabilities relating to the Company’s business of providing in-store advertising solutions to brands, retailers, shopper marketing agencies and brokerages for a cash purchase price of $3.5 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/875355/000165495423007204/0001654954-23-007204-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.