================================================================================
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)
------------------------------------------------
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: 5,750,000
3. Number of shares outstanding after
the change: 6,265,000
4. Effective date of change: March 10, 1997
5. Method of change: Sale of Common Stock
Give brief description of transaction:
Pursuant to a Common Stock Purchase Agreement, dated March 10, 1997, the
issuer sold and issued 515,000 shares of its Common Stock, at a price of
$1.03125 per share, to various purchasers. The transaction closed on March
10, 1997.
PAGING PARTNERS CORPORATION
Dated: March 21, 1997 By: /s/ Jeffrey Bachrach
---------------------------------
Jeffrey Bachrach
Chief Financial Officer
