Access Television Plans Stock Sale
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IRVINE — Access Television Network Inc., which distributes infomercials and other paid programming to cable operators, has disclosed plans to sell stock to the public.
The company is planning to offer up to $25.3 million worth of common stock, according to a report filed with the Securities and Exchange Commission. The filing did not provide details on the number of shares to be offered or the expected price per share.
The company, which has lost more than $10.1 million since it was founded in 1993, distributes the programming to operators of 200 cable systems reaching more than 18 million households, according to the SEC filing. Proceeds of the offering will go toward capital expenditures to expand and upgrade its network, repayment of debt and general purposes, the company said.
Southcoast Capital Corp. And Ladenburg, Thalmann & Co. will underwrite the offering.
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