Potbelly raises $105M from initial public offering - FOX 29 News Philadelphia | WTXF-TV

Potbelly raises $105M from initial public offering

Posted: Updated:
(SassyCrafter/Flickr) (SassyCrafter/Flickr)
CHICAGO (Associated Press) -

Potbelly has raised $105 million from its initial public offering of 7.5 million shares.

The restaurant operator that sells sandwiches, salads and milkshakes priced the offering at $14 per share. That was above the projected range of $12 to $13 each.

Potbelly is selling about 7.3 million shares. Certain stockholders are selling another 150,000 shares.

The Chicago company won't receive any proceeds from the shares sold by the selling stockholders.

The company said in a regulatory filing that it plans to use net proceeds to pay a previously declared dividend; to repay borrowings under a credit facility and for working capital and general corporate purposes.

Potbelly began in 1977 as a small antique store in Chicago. It now has 288 shops in 18 states and the District of Columbia.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Follow Us!

Share Your Photos & Video

Powered by WorldNow

WTXF-TV
330 Market Street
Philadelphia, PA 19106-2796

Phone: (215) 925-2929
Fax: (215) 982-5494

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices