Zoom Telephonics Inc. Agrees to Sell 800,000 Shares of Common
Stock on a Direct Placement Basis
Boston MA, April 8 1996 - Zoom Telephonics, Inc. (Nasdaq
National Market: ZOOM)
today announced that it has agreed to sell 800,000 shares
of its Common Stock at a price of $15.625 per share to four
United States institutional investors in a registered offering
on a direct placement basis. PaineWebber Incorporated, First
Albany Corporation, and Fechtor, Detwiler & Co. Inc. are
the underwriters for the offering. The Company expects to
issue the shares and receive payment on Thursday, April 11,
1996. The Company plans to use the net proceeds of
the offering for general corporate purposes, including working
capital, the repayment of certain indebtedness, new product
development, expansion of facilities, expansion of the Company's
presence in international markets, and potential acquisitions.
Zoom Telephonics is a leading designer, producer, and
marketer of faxmodems and other personal computer communications
products for the home and office. |