RTTNews | Dec 6, 2021 10:25AM EST

10:24 Monday, December 6, 2021 (RTTNews.com) - Shares of Insignia Systems, Inc. (ISIG) are surging over 40% on Monday morning after the company announces review of strategic alternatives to maximize shareholder value.

ISIG is currently trading at $7.04, up $2.03 or 40.52%, on the Nasdaq, on a heavy volume of 12 million shares, compared to average volume of 42 thousand. The stock has traded between $4.76 and $11.00 in the past 52 weeks.

Insignia Systems said it commenced a formal process to explore strategic options to maximize shareholder value. The company said it will evaluate alternatives that include acquisition, merger, business combination, in-licensing, or other strategic transaction.

The company said that there is no assurance this process will result in any transaction. Insignia has not set a timetable for the completion of this review process.

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