Exhibit No. EX.99-3
[BLONDER TONGUE LOGO] One Jake Brown Road
P.O. Box 1000
Old Bridge, New Jersey 08857-1000
Tel: 732-679-4000 Fax: 732-679-4353
FOR IMMEDIATE RELEASE CONTACT: James A. Luksch
Chairman and
Chief Executive Officer
(732) 679-4000
BLONDER TONGUE OBTAINS $13,500,000 CREDIT FACILITY FROM NATIONAL CITY
BUSINESS CREDIT
OLD BRIDGE, NEW JERSEY, January 5, 2006 - Blonder Tongue Laboratories, Inc.
(AMEX: "BDR") today announced that it has consummated its previously announced
$13,500,000 refinancing transaction with National City Business Credit, Inc. to
refinance its existing indebtedness with Commerce Bank.
As previously reported, the refinancing consists of a $10,000,000 asset-based
revolving line of credit and a $3,500,000 amortizing term loan facility. The
term loan facility will require principal payments of $19,444 on a monthly
basis. The loan facility matures in December 2008. All assets of the Company
will secure the $13,500,000 facility.
Founded in 1950, Blonder Tongue Laboratories is a leading U.S. designer,
manufacturer, and supplier of a comprehensive line of broadband systems
equipment and technical engineering services for Voice, Video and Data service
providers. With Blonder Tongue's optimized technologies, simplified deployment
and qualified technical assistance, the service provider reduces costs,
increases customer satisfaction and increases profitability. For more
information regarding Blonder Tongue or its products, please visit the Company's
Web site at www.blondertongue.com or contact the Company directly at (732)
679-4000.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: The information set forth above includes "forward-looking" statements and
accordingly, the cautionary statements contained in Blonder Tongue's Annual
Report and Form 10-K/A for the year ended December 31, 2004 (See Item 1:
Business and Item 7: Management's Discussion and Analysis of Financial Condition
and Results of Operations and Risk Factors), and other filings with the
Securities and Exchange Commission are incorporated herein by reference. The
words "believe", "expect", "anticipate", "project", and similar expressions
identify forward-looking statements. Readers are cautioned not to place undue
reliance on these forward-looking statements, which reflect management's
analysis only as of the date hereof. Blonder Tongue undertakes no obligation to
publicly revise these forward-looking statements to reflect events or
circumstances that arise after the date hereof. Blonder Tongue's actual results
may differ from the anticipated results or other expectations expressed in
Blonder Tongue's "forward-looking" statements.
