ValueVision selling some stock to cash out GE


ValueVision Media, which operates under the “ShopNBC” for TV shopping, has sold $51.6 million of new stock. The net proceeds after offering costs of $48.3 million will be used to redeem preferred stock held by GE Capital Equity Investments.

The offering led by Piper Jaffray & Co. as sole book-running manager, with Dougherty & Co. and Feltl and Company as co-managers, sold 8,250,000 shares of new stock at $6.25 per share. The sale was conducted under an existing shelf registration – so, announced Tuesday and completed Wednesday.

The stock had closed Tuesday at $6.86. It dropped Wednesday after the pricing for the offering was filed with the SEC.