Zoom Telephonics, Inc. Announces Withdrawal of Offering
Boston, MA, March 28, 1996 -- Zoom Telephonics, Inc.
announced today that it has withdrawn its public offering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.
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.