Jaco Electronics, Inc. completes public offering of 1,600,000 common shares

Business Wire, Oct 20, 1995

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--October 20, 1995--Jaco Electronics, Inc., (Nasdaq:JACO) announced today the completion of a 1,600,000 share public offering of its common stock at $12.75 per share.

The offering consisted of 1,325,000 shares offered by the company and 275,000 shares offered by selling shareholders. The net proceeds to the company will be approximately $15,315,000. The offering was managed by Cruttenden Roth Incorporated and Cleary Gull Reiland & McDevitt Inc.

The net proceeds to the Company from the offering will be used to reduce bank indebtedness.

Jaco markets and distributes passive and active electronic components to original equipment manufacturers throughout the United States and Canada from two distribution centers located on the East and West Coasts and 12 sales offices located throughout the United States. The Company distributes products such as semi-conductors, capacitors, electro-mechanical devices, computers and computer subsystems, which are used in the manufacture and assembly of electronic products. The Company also provides a variety of value-added services including configuring complete computer systems, kitting the component requirements of certain customers, assembling fractional-horsepower electric motors to customers' specifications and furnishing contract manufacturing services.

CONTACT: Jeffrey D. Gash, 516/273-5500

or

Morgen-Walke Associates, Inc.

Investor Relations:Donna

Stein/Evan Smith/Sue Rodney

Press: Lee Foley, 212/850-5600