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Following record-breaking quarterly and year-end
revenue results, the company announces new capital access to address increased
demand in the rapidly growing $356 billion fixed broadband market
Manchester, NH – 
(NewMediaWire) – March 15, 2021 – Zoom
Telephonics, Inc., doing business as Minim (OTCQB: MINM) (“Minim”), the creator of
innovative internet access products, today announced that it has closed on a
$13.0 million credit facility in partnership with Silicon Valley Bank in lieu
of its previous $5.0 million credit facility. This announcement follows a record-breaking quarter and year in
Minim’s revenue.
“We are pleased to work with
Silicon Valley Bank on a credit facility that will assist Minim in seeking to
sustainably accelerate growth,” said Sean Doherty, CFO of Minim. “From recent
market analysis, we are optimistic that the post-pandemic era will bring
continued reliance on telemedicine, hybrid remote work models, remote
education, streaming entertainment, and Gigabit speeds—making performant, secure
home WiFi a global imperative. Through our expanded credit facility, Minim will
invest in sales, marketing, and new product introductions to address the demand
for advanced connectivity products that homes need.”
Minim delivers smart
software-driven communication products under the globally-recognized Motorola®
brand. The company’s cable modem, gateway, router, and MoCA systems can be
found in retailers and e-commerce channels nationwide, including: Best Buy,
Target, Walmart, Microcenter, and Amazon. The company’s connectivity hardware
and software are also available for purchase via over 130 Internet Service
Providers and technology distributor Telarus.
“Minim is delivering
high-quality software, hardware and services to connect customers and homes in
the US and internationally,” said Sarah Kwan, Vice President of Technology
Banking at Silicon Valley Bank. “We are proud to work with the Minim team
and support the company’s growth.”
For more information about
Minim, visit www.minim.com.
About Minim
Zoom Telephonics, Inc., doing
business as Minim (OTCQB: MINM) is the creator of innovative internet access
products that dependably connect people to the information they need and the
people they love. Headquartered in Manchester, NH, the company delivers smart
software-driven communications products under the globally recognized Motorola®
brand. Minim end users benefit from a personalized and secure WiFi experience,
leading to happy and safe homes where things just work. To learn more,
visit www.minim.com.
MOTOROLA and the Stylized M
Logo are trademarks or registered trademarks of Motorola Trademark Holdings,
LLC and are used under license.
Forward-Looking Statements
This release contains
forward-looking information relating to Minim’s plans, expectations, and
intentions, including statements about the effects of the merger. Actual
results may be materially different from expectations as a result of known and
unknown risks, including: risks associated with Minim’s potential inability to
realize intended benefits of the merger; the potential increase in tariffs on
the company’s imports; potential difficulties and supply interruptions from
moving the manufacturing of most of the company’s products to Vietnam;
potential changes in NAFTA; the potential need for additional funding which
Minim may be unable to obtain; declining demand for certain of Minim’s
products; delays, unanticipated costs, interruptions or other uncertainties
associated with Minim’s production and shipping; Minim’s reliance on several
key outsourcing partners; uncertainty of key customers’ plans and orders; risks
relating to product certifications; Minim’s dependence on key employees; uncertainty
of new product development, including certification and overall project delays,
budget overruns, and the risk that newly introduced products may contain
undetected errors or defects or otherwise not perform as anticipated; costs and
senior management distractions due to patent related matters; the impact of the
COVID-19 pandemic; and other risks set forth in Minim’s filings with the
Securities and Exchange Commission. Minim cautions readers not to place undue
reliance upon any such forward-looking statements, which speak only as of the
date made. Minim expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any such statements to reflect any change
in Minim’s expectations or any change in events, conditions or circumstance on
which any such statement is based.
Contact:
Sean Doherty
CFO, Minim
sean@minim.com
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