Cruttenden & Co. to Buy Shares in Positive Response

Cruttenden & Co., an Orange County investment banking company, said it will exercise its option to buy 150,000 shares of common stock of Positive Response Television Inc., a Sherman Oaks-based producer of infomercials.

Cruttenden was granted the option of purchasing the stock as part of its agreement to underwrite Positive Response’s public offering of 1 million shares in May. Net proceeds of the offering to Positive Response is now $6.05 million, the company said.