Jaco Electronics, Inc. Files Registration Statement With The Securities And Exchange Commission To Offer 1.6 Million Common Shares

Business Wire, Sept 12, 1995

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--September 12, 1995--Jaco Electronics, Inc., (Nasdaq:JACO) announced today that it has filed a registration statement with the Securities and Exchange Commission for the proposed public offering of 1.6 million shares of its common stock. Of the shares being offered, the Company proposes to sell 1,325,000 shares, and certain stockholders of the Company propose to sell 275,000 shares. The offering will be managed by Cruttenden Roth Incorporated and Cleary Gull Reiland & McDevitt Inc. All numbers of shares are after giving effect to an announced 4-for-3 stock split.

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.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities 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.

Copies of the preliminary prospectus relating to the offering may be obtained from Cruttenden Roth Incorporated, 18301 VonKarman, Suite 100, Irvine, California 92715, (714) 757-5700, or Cleary Gull Reiland & McDevitt Inc., 100 East Wisconsin Avenue, Suite 2700, Milwaukee, WI 53202, (414) 291-4500.

CONTACT: Jeffrey D. Gash

Vice President, Finance

Jaco Electronics, Inc.

(516) 273-5500

or

INVESTOR CONTACT:

Donna Stein/Sue Rodney

Morgen-Walke Associates, Inc.

(212) 850-5600

or

PRESS CONTACT:

Lisa Bradlow

Morgen-Walke Associates, Inc.

(212) 850-5627