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ZENITH FILES REGISTRATION STATEMENT, RECEIVES WORKING CAPITAL LENDING COMMITMENT

 ZENITH FILES REGISTRATION STATEMENT,
 RECEIVES WORKING CAPITAL LENDING COMMITMENT
 GLENVIEW, Ill., Aug. 12 /PRNewswire/ -- Zenith Electronics Corp. (NYSE: ZE) today filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 8 million shares of common stock. The company also intends to grant an option to the underwriters to issue up to an additional 1.2 million shares on the same terms to cover over-allotments.
 The net proceeds from the sale of stock will be used for general corporate purposes, including the possible redemption of all or a portion of the company's 12-1/8 percent notes due 1995, the repayment of debt outstanding under its working capital facility, and capital expenditures and research expenses related to the development of "flat tension mask" color picture tubes and high-definition television transmission systems.
 Salomon Brothers Inc and The First Boston Corporation were named as managers of the underwriting group. Separately, the company received a commitment from a major institutional lender for a three-year, secured $60 million working capital agreement. The new agreement would replace Zenith's existing bank agreement, which expires at the end of the year. The company expects to close on the new agreement in 30 to 45 days and plans to offer the stock after closing.
 The registration statement relating to the proposed public offering of common stock has been filed with the Securities and Exchange Commission, but has not yet become effective. The common stock registered thereby may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.
 This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there ba?ny sales of such common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 8/12/92
 /CONTACT: John Taylor, 708-391-8181, or investors, Seymour Lipton, 708-391-7713, both for Zenith/
 (ZE) CO: Zenith Electronics Corp. ST: Illinois IN: CPR SU: OFR


SM -- NY081 -- 6356 08/12/92 16:29 EDT
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Publication:PR Newswire
Date:Aug 12, 1992
Words:352
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