Company sells 4,909,999 common shares at $0.70 per share in offering
By Devika Patel
Knoxville, Tenn., Sept. 28 – Zoom Telephonics, Inc. settled a $3.44 million private placement of stock on Sept. 25, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 4,909,999 common shares at $0.70 apiece. The per-share price represents a 39.66% discount to the Sept. 24 closing share price of $1.16.
The Boston company designs, produces, markets, sells and supports broadband and dial-up modems, Wi-Fi and Bluetooth wireless products and other communication-related products.
| Issuer: | Zoom Telephonics, Inc.
|
| Issue: | Common stock
|
| Amount: | $3,437,000
|
| Shares: | 4,909,999
|
| Price: | $0.70
|
| Warrants: | No
|
| Settlement date: | Sept. 25
|
| Stock symbol: | OTCBB: ZMTP
|
| Stock price: | $1.16 at close Sept. 24
|
| Market capitalization: | $9.39 million
|
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