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QUALITY PRODUCTS, INC. ANNOUNCES COMPLETION OF PUBLIC STOCK OFFERING

 QUALITY PRODUCTS, INC. ANNOUNCES COMPLETION OF PUBLIC STOCK OFFERING
 COLUMBUS, Ohio, Sept. 10 /PRNewswire/ -- Quality Products, Inc. (NASDAQ: QYPI) ("the Company") today announced that it has successfully completed its Regulation A public offering ("Reg A").
 The proceeds received from the Reg A provide for the payment of $750,000 to Huntington National Bank ("HNB") in full and final settlement of all pending litigation between the two parties. In exchange for the cash payment, HNB will surrender to the company 61,380 shares of the company's Class B preferred stock (convertible to 1,227,600 common shares), 2,970,000 shares of the company's Class A preferred stock, 2,610,000 Series A subordinated debentures, and a Cognovit Note and Judgment in the amount of $500,000, held by the bank.
 The company anticipates final closing of the settlement transaction to be within the next two days.
 -0- 9/10/92
 /CONTACT: Steve Springer of Quality Products, Inc., 614-228-8120/
 (QYPI) CO: Quality Products, Inc. ST: Florida IN: MNG SU: OFR


KK -- CL006 -- 7936 09/10/92 10:53 EDT
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Publication:PR Newswire
Date:Sep 10, 1992
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