But wait, there’s an IPO: Austin’s Ronco files for public offering
Ronco Brands, a new Austin-based holding company for the maker of the Veg-o-Matic food processors and other iconic gadgets sold on late-night infomercials with the “but wait … there’s more” catchphrase, has filed to raise $30 million in an initial public offering.
And if investors act now, they can get a Ronco Rotisserie and Ronco Ready Grill along with their stock purchase — seriously.
The small company, incorporated less than two months ago as the parent of Ronco Holdings and its brands that include the Ronco Chiptastic Microwave Potato chip Maker, the Ronco 5 Minute Pasta Wizard and the Ronco Pocket Fisherman, among others, is valued at more than $100 million under the offering. William Moore, chief executive of Ronco Holdings, will control 97 percent of the shareholder voting rights once it’s completed.