AUSTIN, Texas (AP) — The company behind the Veg-O-Matic and other household products now wants to slice and dice the stock market and sell 5 million shares of Ronco Brands for $6 each.
Just like in the infomercials Ronco uses to sell gadgets like the Pocket Fisherman, there's more to this deal.
Act now to express interest in the minimum $120 investment for 20 shares.
But for investments over $1,000, Ronco will throw in a 20 percent discount on its website. Spend more than $5,000 and get a Ronco Rotisserie too.
Why stop there? Invest more than $10,000 and the Austin, Texas-based company will throw in a Ronco Ready Grill to go with the rotisserie and the 20 percent discount.
Ronco was founded in 1964. Since the current owners took over in 2011, the company has had losses every year. It has largely relied on private investments and loans to continue operating.
In documents filed with the Securities and Exchange Commission, it recorded net losses of $4.6 million in 2015 and $9.8 million in 2014. It also posted a loss of nearly $2.7 million in the first six months of 2016.
Ronco plans to launch as many as 40 new products this year.
"The Ronco brand has been synonymous with 'innovation' for more than three generations of American consumers. Our products are found in millions of American homes," CEO Bill Moore said.
The stock sale is designed to pay for product development and to help the company expand into new markets.
Ronco Brands stock offering: https://www.ronco.com/Opportunity.html