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Zoom Telephonics, Inc. Announces Withdrawal of Offering

Boston, MA, March 28, 1996 -- Zoom Telephonics, Inc. (NASDAQ: ZOOM) announced today that it has withdrawn its public offering of Common Stock in response to the drop in the share price of its stock during the offering period.

The Company believes that the near-term dilution from the offering and the recent weakness in personal computer stocks were factors in the decline of the Company's share price from $18.50, the closing price on the day before the registration statement was filed. "We want to maximize shareholder value, and we believe that our decision is consistent with that goal," said Frank Manning, Zoom's CEO. "We recently reported all-time record results and were not willing to sell at the current market price. We are in the enviable position of being able to take a pass on an offering that doesn't make sense at this price."

Zoom Telephonics is a leading designer, producer, and marketer of faxmodems and other personal computer communications products for the home and office.

 

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