Zoom Telephonics Chooses November 10, 2010 as Rights Offering Record Date
BOSTON, MA–(Marketwire – Nov 3, 2010) – Zoom Telephonics, Inc. (OTCBB: ZMTP) (“Zoom”), a heading provider of modems and alternative communications products, now voiced the following vicious dates for the formerly voiced rights offering. The jot down date is Nov 10, 2010; and any shareholder of Zoom as of 5:00 p.m. New York City time on Nov 10, 2010 will embrace 4 non-transferable rights for any share of Common Stock of Zoom hold by such shareholder at that time. Zoom expects to jot down an nice registration matter on Form S-1 with Q3 2010 financials on or about Nov 16, 2010 and hopes to have the registration matter spoken in effect by the Securities and Exchange Commission before long thereafter. Zoom now expects to mail the handbill and rights subscription forms to all Zoom shareholders as of the jot down date on or about Nov 22, 2010. Zoom has set Dec 17, 2010 as the death date for the rights offering.
Each right will grant a shareholder to squeeze one share of Zoom’s Common Stock at a squeeze cost of $0.25 per share. Shareholders who own Zoom Common Stock as of the jot down date will additionally have the capability to squeeze one some-more shares of Common Stock at $0.25 per share pursuant to oversubscription rights and theme to accessibility and boundary for any shareholder, as described in the registration statement.
Assuming the rights charity is entirely subscribed, Zoom will embrace sum deduction of we estimate $2 million, reduction losses of the rights offering.
The shares of Common Stock purchased by the practice of rights released in the rights charity will be homogeneous to the shares of Zoom’s Common Stock now superb and trade on the Over-the-Counter Bulletin Board.
Zoom filed this rights charity to lift equity collateral in a cost-effective demeanour that gives all of Zoom’s shareholders as of the jot down date the event to participate. The net deduction will be used for intensity operative collateral needs and ubiquitous corporate purposes, as serve described in the rights charity documents.
Three Zoom founders who together beneficially own we estimate 21% of the superb Common Stock — Zoom President, CEO, Chairman, and Acting CFO Frank Manning, Zoom Director Peter Kramer, and shareholder T. Patrick Manning — have voiced their goal to experience in the rights offering. However, there can be no declaration that they will essentially experience in the offering.
A registration matter relating to these rights charity securities, namely subscription rights and usual batch to be released on practice of subscription rights as described in this release, has been filed with the SEC but has not nonetheless turn effective. Rights charity bonds might not be sole nor might offers to buy be supposed before to the time the registration matter becomes effective. The rights will be released to all shareholders as of the jot down date described above. This press recover shall not consecrate an suggest to sell or the questionnaire of an suggest to buy, nor shall there be any sale of these rights charity bonds in any state in that such offer, questionnaire or sale would be wrong before to the registration or gift underneath the bonds laws of any such state.
Zoom has scheduled a discussion call for Thursday, Nov 4 at 10:00 a.m. Eastern Time to plead the Q3 2010 monetary formula and the rights offering. You might entrance the discussion call by dialing (866) 393-7958. The discussion ID is 23238105. The call will additionally be simulcast to batch analysts and alternative meddlesome parties on Zoom’s website, www.zoomtel.com/Q3, and to alternative monetary and investor-oriented websites. Shortly after the discussion call, a recording of the call will be accessible on Zoom’s website. For one some-more information, greatfully hit Investor Relations, Zoom Technologies, 207 South Street, Boston, MA 02111, write (617) 753-0897, email investor@zoomtel.com, or revisit Zoom’s website at www.zoomtel.com.
About Zoom Telephonics
Founded in 1977 in Boston, Zoom Telephonics, Inc. designs, produces, markets, and supports report exchnage products underneath the Zoom, Hayes®, and Global Village® brands. For some-more report about Zoom and the products, greatfully see www.zoomtel.com.
Forward Looking Statements
This recover contains forward-looking report relating to Zoom’s plans, expectations, and intentions, together with statements relating to the due rights offering. Actual formula might be materially opposite from expectations as a outcome of well known and different risks, including: the intensity need for one some-more appropriation that Zoom might be incompetent to obtain; Zoom’s capability to go on as a going concern; disappearing direct for sure of Zoom’s products; risks relating to product certifications; Zoom’s faith on a singular series of business for sale of the products; stockholders might humour poignant dilution as a outcome of the rights offering; Zoom might terminate the rights charity or correct papers or critical elements relating to the rights charity at any time; the subscription cost dynamic for the rights charity is not indispensably an denote of Zoom’s value; the marketplace cost of Zoom’s usual batch might decrease as a outcome of the rights charity or for alternative reasons; and alternative risks set onward in Zoom’s filings with the Securities and Exchange Commission, together with Zoom’s Annual Report on Form 10-K for the mercantile year finished Dec 31, 2009 and the registration matter on Form S-1 filed by Zoom on Oct 5, 2010. Zoom cautions readers not to place unjustified faith on any such forward-looking statements, that verbalise usually as of the date made. Zoom specifically disclaims any requisite or endeavour to recover publicly any updates or revisions to any such statements to simulate any shift in Zoom’s expectations or any shift in events, conditions or business on that any such matter is based.
