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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-C
REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
INTERDEALER QUOTATION SYSTEM
FILED PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 AND RULE 13a-17
OR 15d-17 THEREUNDER
PAGING PARTNERS CORPORATION
(Exact name of registrant as specified in its charter)
Freehold Office Plaza
4249 Route 9N, Bldg. 2
Freehold, New Jersey 07728
(Address of principal executive offices, including zip code)
(908) 409-7088
(Issuer's telephone number, including area code)
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I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of five percent or more in the number
shares outstanding:
1. Title of security: Common Stock,
par value .01 per share
2. Number of shares outstanding before the change: 4,800,000
3. Number of shares outstanding after the change: 5,657,143
4. Effective date of change: May 10, 1996
5. Method of change: Sale of Common Stock
Give brief description of transaction:
Pursuant to a Common Stock Purchase Agreement, dated May 7, 1996, the
issuer sold and issued 857,143 shares of its Common Stock, at a price of
$1.75 per share, to various purchasers. The transaction closed on May 10,
1996.
PAGING PARTNERS CORPORATION
Dated: May 15, 1996 By: /s/ Jeffrey M. Bachrach
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Jeffrey Bachrach
Chief Accounting Officer
