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Shop At Home offers up stox

Proceeds used to launch collectibles.com Web

NEW YORK — Shop At Home said Wednesday it has filed to offer 8.85 million of common stock, including 850,000 shares to be offered by certain stockholders.

The Nashville-based company — which, with 3.4% of the home-shopping network market, ranks behind QVC, the Home Shopping Network and ValueVision — said part of the proceeds has been allocated to repaying a bridge loan of $20 million arranged for the purchase of WBPT in Bridgeport, Conn.

The remainder will be used to launch Shop At Home’s new collectibles.com Web site, to buy additional TV stations and for general corporate purposes.

Small but fast-growing

Although the smallest of major home-shopping networks, Shop at Home said it has been the fastest-growing over the past year.

Revenues for the quarter ended March 31 totaled $37.1 million, representing an increase of 41.8% over from the year-earlier quarter.

Prudential Securities will serve as lead manager of the offering, with BancBoston Robertson Stephens, Friedman Billings Ramsey, SunTrust Equitable Securities and Morgan Keegan & Company as co-managers.

Shop at Home’s stock fell 9.8% Wednesday to close at $8.62 a share.