Infomercial Producer Sells 400,000 Shares

Positive Response Television Inc., a Sherman Oaks producer of infomercials, said it has sold 400,000 new shares of its common stock for $12.50 each to a group led by the investment firm Arnhold & S. Bleichroeder Inc.

Proceeds from the sale of the stock, which represents 11.2% of the company’s total shares outstanding, will raise Positive Response’s cash position by about $5 million, it said. The money will be used mostly to increase air time for three current infomercials and new infomercials to be shown in the coming weeks.