Printer Friendly

GRAYHOUND ELECTRONICS SIGNS AGREEMENT TO RAISE $2.5 MILLION WITH FIRST MADISON SECURITIES

 TOMS RIVER, N.J., May 6 /PRNewswire/ -- Grayhound Electronics, Inc. (NASDAQ: GRAY), today announced it has signed an investment banking agreement with First Madison Securities, Inc., of Montville, N.J., a registered broker/dealer with the National Association of Securities Dealers (NASD), for the purpose of raising $2,500,000 on a best efforts basis in debt or equity financing.
 Chairman Thomas M. Ricci said, "Upon the successful completion of the proposed financing, the company will be able to satisfy current financial obligations, expand the core business, and roll out new products such as the instant lottery ticket dispensers and the debit card dispensers. With the increased sales of the last two quarters continuing into this quarter, this money is really needed to keep company business moving forward." However, there is no guarantee the financing will be completed.
 -0- 5/6/93
 /NOTE TO EDITORS: Grayhound Electronics, Inc., is not affiliated with The Greyhound Corp./
 /CONTACT: Thomas M. Ricci, chairman of Grayhound Electronics, 908-341-5200, or fax, 908-341-6560/
 (GRAY)


CO: Grayhound Electronics, Inc. ST: New Jersey IN: CPR SU: FNC

PS-GK -- NY041 -- 5298 05/06/93 10:02 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 6, 1993
Words:188
Previous Article:CONQUEST AIRLINES COMMENCES NON-STOP SERVICE FROM BIRMINGHAM TO KNOXVILLE AND CHARLESTON; DOUBLES FLEET SIZE TO 12 AIRCRAFT
Next Article:PLAYBOY ENTERPRISES REPORTS OPERATING INCOME UP 76 PERCENT FOR QUARTER
Topics:


Related Articles
GRAYHOUND ELECTRONICS ANNOUNCES RESULTS FOR FIRST QUARTER
HIGHER SECOND QUARTER PROFITS WITH BETTER MARGINS REFLECTED BY GRAYHOUND ELECTRONICS
IMPROVED NET PROFITS AND SHAREOWNER EQUITY SHOWN IN THIRD QUARTER BY GRAYHOUND ELECTRONICS
GRAYHOUND ELECTRONICS REPORTS HIGHER FIRST QUARTER RESULTS AND MAJOR NEW PRODUCT INTRODUCTIONS FOR INTERNATIONAL MARKETS
GRAYHOUND ELECTRONICS REPORTS HIGHER SECOND QUARTER RESULTS
HIGHER THIRD QUARTER RESULTS BY GRAYHOUND ELECTRONICS; NEW PRODUCTS WELL RECEIVED AT THE CALIFORNIA TRADE EXPOSITION
HIGHER THIRD QUARTER RESULTS BY GRAYHOUND ELECTRONICS; NEW PRODUCTS WELL RECEIVED AT THE CALIFORNIA TRADE EXPOSITION
1993 SALES AND NET PROFIT INCREASED FOR GRAYHOUND ELECTRONICS, INC.
TWO MAJOR U.S. TELECOMMUNICATION COMPANIES TO USE GRAYHOUND'S DCD-400X PREPAID CALLING CARD DISPENSERS
GRAYHOUND SIGNS MILLION DOLLAR AGREEMENT WITH CLASSIC GAMES OF IOWA

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters