Press Releases

Zoom Technologies Executed Definitive Agreement With Investors for $7.9 Million Raise

Funds for New Production Lines of Mobile Phones

Funds for New Production Lines of Mobile Phones

BEIJING--(Marketwire - November 10, 2010) - Zoom Technologies, Inc. (NASDAQ: ZOOM) today announced it has executed definitive agreements with institutional and accredited investors for gross proceeds of $7,926,240 in connection with the Company's private placement of common stock and warrants. 

The transaction involves the sale of 2,113,664 newly-issued shares of the company's common stock at the price of $3.75 per share and warrants to purchase an additional 1,585,248 shares of the company's common stock at $4.71 per share. 

The transaction will close pending satisfaction of certain closing procedures. Proceeds from this financing will be used for capacity expansion purposes.

Global Hunter Securities LLC acted as the lead placement agent in the transaction and Ladenburg Thalmann & Company Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE Amex: LTS), acted as co-placement agent. Ellenoff Grossman & Schole LLP served as legal advisor to Zoom Technologies in the transaction.

This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities. For additional information, please refer to Zoom's current report on Form 8-K to be filed with the Securities and Exchange Commission in conjunction to this transaction.

About Zoom Technologies, Inc.
Zoom Technologies is a holding company with subsidiaries that engage in the manufacturing, research and development, and sale of electronic and telecommunication products for the latest generation mobile phones, wireless communication circuitry, and related software products. Zoom Technologies' subsidiary, Jiangsu Leimone, owns a majority stake of TCB Digital, which offers highly customized and high quality Electronic Manufacturing Service (EMS) for Original Equipment Manufacturer (OEM) customers as well as its own brand under the brand name of Leimone. The company's products are both exported and sold domestically. For more information about Zoom Technologies please visit Zoom's corporate website at

Forward Looking Statements
This release contains forward-looking information relating to Zoom's plans, expectations, and intentions. Actual results may be materially different from expectations as a result of known and unknown risks, including the risks set forth in Zoom's filings with the Securities and Exchange Commission. Zoom cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Zoom expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Zoom's expectations or any change in events, conditions or circumstance on which any such statement is based.