ZENITH SIGNS AGREEMENT FOR SALE OF COMMON SHARES TO FLETCHER CAPITAL MARKETS, INC.
GLENVIEW, Ill., March 26 /PRNewswire/ -- Zenith Electronics Corp. (NYSE: ZE) has entered into an agreement for the sale of 1.2-1.5 million shares of newly issued Zenith common stock (3.8 to 4.7 percent of shares outstanding) to Fletcher Capital Markets, Inc. The price per share will be related to transactions on the New York Stock Exchange during a specified period. The transaction is subject to a Registration Statement (to be filed shortly with the Securities and Exchange Commission) becoming effective and the closing is subject to certain conditions. The transaction is expected to close in about two months. Fletcher Capital Markets, Inc. is based in New York City and makes strategic investments. -0- 3/26/93 /CONTACT: John Taylor, 708-391-8181, or Seymour Lipton, (investors), 708-391-7713, both at Zenith/ (ZE)
CO: Zenith Electronics Corp.; Fletcher Capital Markets, Inc. ST: Illinois IN: CPR SU: TNM
LR -- NY013 -- 9969 03/26/93 09:35 EST
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|Date:||Mar 26, 1993|
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