Zoom Technologies Inc. (ZTNO)

[califax]

Zoom Technologies Raises $1 Million in Common Stock Offering

Date : 06/01/2010 @ 11:30AM
Source : MarketWire
Stock : Zoom Technologies (ZOOM)

http://ih.advfn.com/p.php?pid=nmona&article=43047336&symbol=N^ZOOM

BEIJING -- (Marketwire)
06/01/10
Zoom Technologies, Inc. (NASDAQ: ZOOM), a leading China-based manufacturer of mobile phones and other mobile electronic products, today announced that it has raised $1 million through the sale of 166,667 shares of common stock, at $6.00 per share on Friday, May 28, 2010.

The shares were sold at a premium of $0.41 or 7.3% to the closing price of ZOOM as traded on Nasdaq the day before the sale of such 166,667 shares. Proceeds from this offering will be used for a pipeline acquisition.

The shares were sold pursuant to a shelf registration statement on Form S-3 filed with, and has been declared effective by, the Securities and Exchange Commission.

This press release does not constitute an offer to sell any securities.

About Zoom Technologies

Zoom Technologies is a holding company with subsidiaries that engage in the manufacturing, research and development, and sale of mobile phones, wireless communication circuitry, related telecommunication equipment and software products. Zoom Technologies' subsidiary, Jiangsu Leimone, owns a majority stake of TCB Digital, which offers customized and high quality Electronic Manufacturing Service (EMS) for Original Equipment Manufacturer (OEM) customers as well as its own brand of mobile phones under the brand name of Leimone. The company's products are both exported and sold domestically. For more information about Zoom Technologies please visit Zoom's corporate website at http://www.zoomleimone.com.

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" that involve risks and uncertainties. These include statements about our expectations, plans, objectives, assumptions or future events, including our expansion in other 3G enabled mobile phones and the acquisition of Leimone Culture as mentioned in previous press releases, which may require shareholder approval that cannot be assured. The reader should not place undue reliance on these forward-looking statements. Information concerning factors that could cause our actual results to differ materially from these forward-looking statements can be found in our periodic reports filed with the Securities and Exchange Commission. We undertake no obligation to publicly release revisions to these forward-looking statements to reflect future events or circumstances or reflect the occurrence of unanticipated events.