BofA Merrill Lynch, Goldman Sachs were joint bookrunners for the deal
By Devika Patel
Knoxville, Tenn., Oct. 9 - Potbelly Corp. said the underwriters for its initial public offering of stock elected to exercise the deal's $15.75 million greenshoe in full for total proceeds of $118.65 million. The deal was announced Aug. 29 and included a secondary sale of 150,131 shares.
The deal consisted of 8,625,000 common shares sold at $14.00 per share. Of the shares, 1,125,000 were part of the fully exercised greenshoe. The company sold 8,474,869 shares, and the shareholders sold 150,131 shares.
BofA Merrill Lynch and Goldman Sachs & Co. were the joint bookrunning managers.
Proceeds will be used to pay a cash dividend on the company's common stock and preferred stock, to repay debt under the company's credit facility, for working capital and for general corporate purposes.
Based in Chicago, the company sells sandwiches. The company intends to list its common stock on the Nasdaq under the symbol "PBPB."
| Issuer: | Potbelly Corp.
|
| Issue: | Common stock
|
| Amount: | $118,648,166 (including $15.75 million greenshoe)
|
| Shares: | 8,474,869
|
| Price: | $14.00
|
| Warrants: | No
|
| Bookrunners: | BofA Merrill Lynch and Goldman Sachs & Co.
|
| Co-managers: | Robert W. Baird, William Blair and Piper Jaffray
|
| Announcement date: | Aug. 29
|
| Settlement date: | Oct. 9
|
| Stock symbol: | Nasdaq: PBPB
|
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