Lendway closes $3.5M sale of in-store marketing business, appoints Randy Uglem as CEO, shifts to non-bank lending

BLOOMIA HOLDINGS, INC.

Sold in-store advertising solutions business to TIMIBO LLC (Park Printing affiliate) for $3.5M cash, subject to escrow and adjustments.
Randy Uglem promoted to President and CEO effective August 4, 2023, replacing Kristine Glancy who departs August 31.
Reincorporated from Minnesota to Delaware; name changed to Lendway, Inc.; ticker changed from ISIG to LDWY.
Pro forma Q1 2023 net loss of $510K vs historical net income $1.648M after removing sold business revenue.
Company pivots to non-bank lending platform, initially targeting Minnesota and nearby states.

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Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Kristine A. Glancy

President and Chief Executive Officer

TULP · BLOOMIA HOLDINGS, INC.

Effective: 2023-08-31
Successor: Randy D. Uglem
Filed: August 9, 2023, 7:59 PM ET

As previously reported, Ms. Glancy’s employment with the Company is expected to terminate effective August 31, 2023.

Appointed

Randy D. Uglem

President and Chief Executive Officer

TULP · BLOOMIA HOLDINGS, INC.

Effective: 2023-08-04
Successor: Kristine A. Glancy
Filed: August 9, 2023, 7:59 PM ET

the Company’s board of directors appointed Randy D. Uglem, the Company’s Senior Vice President of Lending, to succeed Kristine A. Glancy as President and Chief Executive Officer, effective August 4, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Kristine A. Glancy was terminated as President and Chief Executive Officer at BLOOMIA HOLDINGS, INC..

Action: terminated
Role: President and Chief Executive Officer

Exact text from the filing

As previously reported, Ms. Glancy’s employment with the Company is expected to terminate effective August 31, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Randy D. Uglem was appointed as President and Chief Executive Officer at BLOOMIA HOLDINGS, INC..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

the Company’s board of directors appointed Randy D. Uglem, the Company’s Senior Vice President of Lending, to succeed Kristine A. Glancy as President and Chief Executive Officer, effective August 4, 2023.

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

BLOOMIA HOLDINGS, INC.: Adoption of new bylaws in connection with reincorporation (effective 2023-08-04).

Change: bylaw amendment
Effective: 2023-08-04

Exact text from the filing

In connection with the Reincorporation, the Company’s board of directors also adopted new bylaws (the “Bylaws”).

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

BLOOMIA HOLDINGS, INC.: Reincorporation from Minnesota to Delaware resulting in a new Certificate of Incorporation (effective 2023-08-04).

Change: charter amendment
Effective: 2023-08-04

Exact text from the filing

Effective August 4, 2023, the Company changed its state of incorporation from the State of Minnesota to the State of Delaware (the “Reincorporation”) by means of a Plan of Conversion, effective August 4, 2023

View on SEC.gov

59 governance changes filed in the last 30 days. Browse all governance changes →

BLOOMIA HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001654954-23-010389

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