ZENITH SIGNS AGREEMENT FOR SALE OF COMMON SHARES TO FLETCHER CAPITAL MARKETS INC.
GLENVIEW, Ill., July 30 /PRNewswire/ -- Zenith Electronics Corp. (NYSE: ZE) announced today that it has entered into an agreement for the sale of 750,000-1.2 million shares of newly issued Zenith common stock (2.3-3.6 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. Fletcher is already a stockholder, having purchased 1.5 million shares of Zenith common stock in May 1993. The closing of this transaction is subject to certain conditions and is expected to occur in about two months. The shares will be sold pursuant to a shelf registration statement for an original amount of 5 million shares, of which 2 million have been sold. Fletcher Capital Markets is a New York City-based investment firm. -0- 7/30/93 /CONTACT: John Taylor, 708-391-8181, or (investors) Bill McNitt, 708-391-7713, both of Zenith Electronics Corp.; or Robert Vecsler of Fletcher Capital Markets, 212-272-3327/ (ZE)
CO: Zenith Electronics Corp.; Fletcher Capital Markets Inc. ST: Illinois IN: CPR SU:
TS -- NY011 -- 7627 07/30/93 09:29 EDT
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|Date:||Jul 30, 1993|
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