Potbelly Raises $105 Million Pricing IPO Above Increased Range
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Potbelly Corp., the Chicago-based purveyor of made-to-order toasted sandwiches, raised $105 million in a U.S. initial public offering, pricing its shares above an increased range.
The company and existing stockholders sold 7.5 million shares for $14 each, according to data compiled by Bloomberg, after offering them for $12 to $13. The company raised the range Oct. 2 after initially setting it at $9 to $11. The shares, equivalent to about a 27 percent stake, will start trading today, listed on the Nasdaq Stock Market under PBPB.