DZS Announces Two New Board of Director Members

DALLAS, Feb. 20, 2024 (GLOBE NEWSWIRE) -- DZS (Nasdaq: DZSI), a global leader of access, optical and AI-driven cloud software solutions, today announced that Todd Jackson and Paul Choi have been appointed to the company’s Board of Directors. Jackson and Choi join the DZS Board following three strategic transactions: securing $25 million of working capital through two transactions, a private placement of DZS common stock and a term loan; the planned divestiture of the company’s lower margin Asia business, which, upon closing, will eliminate $43 million of debt; and an additional $5 million of working capital. The sale of the Asia business is expected to close in the first quarter of 2024.

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