Infusion Brands International, Inc. and As Seen On TV, Inc. Announce Closing of Merger
April 03 2014 - 7:34AM
Marketwired
Infusion Brands International, Inc. and As Seen On TV, Inc.
Announce Closing of Merger
Merger Expected to Accelerate Growth of Multi-Channel Consumer
Product Business
CLEARWATER, FL--(Marketwired - Apr 3, 2014) - Infusion Brands
International, Inc., a leading consumer product brand marketing
company, and As Seen On TV, Inc. (OTCQB: ASTV), a leading online
marketer of As Seen On TV products (AsSeenOnTV.com) and health and
wellness provider (eDiets.com), today announced the closing of
their merger effective April 2, 2014.
Under the terms of an Agreement and Plan of Merger, the
transaction was an all-stock acquisition of Infusion Brands, Inc.,
the wholly owned operating subsidiary of Infusion Brands
International, Inc., resulting in pro-forma ownership of
one-quarter As Seen On TV, Inc. shareholders to three-quarters
Infusion Brands International, Inc. on a fully diluted basis. As
Seen On TV issued 452,960,490 shares of its common stock to
Infusion Brands International, Inc. The transaction is expected to
be tax free to Infusion Brands International, Inc.
The combined companies, based in Clearwater, FL, will now have a
powerful portfolio of revenue-generating brands including but not
limited to "Set It and Forget It," Ronco, Dual Saw, Dual Tools, and
DOC Cleaning, as well as well-known technology enabled brands
AsSeenOnTV.com and eDiets.com. Infusion Brands has successfully
generated revenue and marketed brands in a multi-channel
environment, driving retail sales through direct response marketing
initiatives as well as live television shopping both domestically
and internationally.
"We are pleased to announce the closing of the merger with As
Seen On TV and remain excited about the potential to unlock value.
With this merger, along with our recent capital raise, the combined
companies will compete in three key verticals with well-established
household name brands: Hardware, Home Goods, and Health and
Wellness. We believe the diversification of these verticals within
our business will assist in creating a sustainable and
growth-oriented platform for years to come," stated Bob DeCecco,
former CEO of Infusion Brands International, Inc., and new Chairman
and CEO of As Seen On TV, Inc. "Through the combined entities, we
will continue to drive home the message of building brands by
focusing on bringing new product innovation to market while
leveraging direct response marketing and international
multi-channel distribution to grow revenue."
About As Seen On TV As Seen On TV, Inc. (OTCQB: ASTV) is a
leading multichannel distributor of As Seen On TV products. The
company attracts engaged consumers worldwide. Customers can find
1,500 products from As Seen on TV in the areas of Household,
Kitchen, Outdoor, Health & Beauty, Fitness, Clothing,
Electronics, Toys, Novelty, Pets, DVDs, and Food. Celebrities and
industry experts often endorse As Seen On TV products for their
inventive nature and utility. For more information, please visit
www.AsSeenOnTV.com or follow ASTV online at
Facebook.com/OfficialAsSeenOnTV, @AsSeenOnTV on Twitter and
Pinterest.com/AsSeenOnTVHQ.
About Infusion Brands International, Inc. Infusion Brands
International, Inc. is a consumer products company that leverages
direct response channels to satisfy unmet market demands and solve
everyday problems, with an array of innovative consumer products
that have potential to disrupt their categories with significant
competitive advantages, features and benefits. With physical
offices in North America, Europe and Asia, Infusion Brands has
worldwide reach and capability. For more information, visit
www.infusionbrands.com.
Forward-Looking Statements In accordance with the Private
Securities Litigation Reform Act of 1995, we caution you that,
whether or not expressly stated, certain statements made in this
news release that reflect management's expectations regarding
future events and economic performance are forward-looking in
nature and, accordingly, are subject to risks and uncertainties.
This information is qualified in its entirety by cautionary
statements and risk factor disclosures contained in the Company's
Securities and Exchange Commission filings, including the Company's
annual report on Form 10-K for the fiscal year ended March 31,
2013, which are available at www.sec.gov. We caution readers that
certain important factors may have affected and could in the future
affect the Company's actual results and could cause the Company's
actual results for subsequent periods to differ materially from
those expressed in any forward-looking statement made by or on
behalf of the Company.
Contact: Contact Information: As Seen On TV, Inc. Ashley Bowden
Corporate Communications Director abowden@astvinc.com
727-451-9519
Austevoll Seafood ASA (PK) (USOTC:ASTVF)
Historical Stock Chart
From Oct 2024 to Nov 2024
Austevoll Seafood ASA (PK) (USOTC:ASTVF)
Historical Stock Chart
From Nov 2023 to Nov 2024
