LOS ANGELES, October 26, 2009 — WestPark Capital, Inc. announced the closing of a WRASP for ZST Digital Networks, Inc. (Nasdaq: ZSTN). A WRASP is an alternative capital markets transaction process where a private company goes public through a share exchange, with its common stock trading directly on the Nasdaq or another senior exchange. The ZST Digital Networks, Inc. WRASP transaction raised a total of approximately $30 million of equity capital for the company.
“ZST Digital Networks, Inc. is a product of our most recent advancement in the WRASP process, an innovative way to allow growth companies to immediately raise a larger amount of equity capital at the time of listing without expending additional resources for a follow-on fundraising in the near future,” stated Richard Rappaport, CEO of WestPark Capital. “We are extremely pleased with the timeliness of the WRASP process and feel it is an excellent way for companies to grow within the U.S. capital markets,” added Zhong Bo, Chief Executive Officer and Chairman of the Board of ZST Digital Networks, Inc.
WestPark Capital, Inc. co-managed the ZST Digital Networks, Inc. underwriting. The registration statement related to these securities has been declared effective by the Securities and Exchange Commission. This news release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering is made only by prospectus. A copy of the final prospectus may be obtained from WestPark Capital, Inc., 1900 Avenue of the Stars, Suite 310, Los Angeles, CA 90067, by telephone (310) 843-9300.
WestPark Capital is a leading investment banking and securities brokerage firm serving the needs of private and public growth companies worldwide. WestPark is committed to forging lasting partnerships with emerging growth companies and the investors who back them. WestPark provides a comprehensive range of corporate finance services, including WRASP transactions, initial public offerings, follow-on offerings and private placements, and financial advisory services. Additional information about WestPark Capital, Inc. is available at www.wpcapital.com.
ZST Digital Networks, Inc. (Nasdaq: ZSTN) is a China-based company, principally engaged in supplying digital and optical network equipment and providing installation services to cable system operators in China. The Company has developed a line of IPTV devices that are used to provide bundled cable television, Internet and telephone services to residential and commercial customers. The Company has assisted in the installation and construction of over 400 local cable networks in more than 90 municipal districts, counties, townships, and enterprises. For more information about ZST Digital Networks, Inc., please visit http://www.shenyangkeji.com
Corporate and Investor Contacts:
WestPark Capital, Inc.