STRATEGIC PARTNERS
September 18, 2013
Chicago-based Potbelly Corp., backed by private equity firm Oak Investment Partners, filed recently with U.S. regulators to raise $75 million in an initial public offering of common stock, according to Reuters.com.
BofA Merrill Lynch and Goldman Sachs are among the underwriters for the IPO, according to the chain, which did not disclose how many shares it planned to sell or their expected price.
Net proceeds from the offering would be used to pay a previously declared cash dividend and for working capital purposes, according to Reuters. Potbelly reported net profit of $24 million on revenue of $274.9 million for 2012.
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