NEW YORK (AP) - Shares of Papa Murphy's rose in their first day of trading.
NEW YORK (AP) — Shares of Papa Murphy's rose in their first day of trading.
Papa Murphy's Holdings Inc. is a franchisor and operator of the largest Take 'N' Bake pizza chain in the U.S. It sells uncooked pizzas for baking at home.
The stock added 65 cents, or 5.9 percent, to $11.65 in morning trading Friday on the Nasdaq.
The initial public offering of about 5.8 million shares priced at $11 per share — the low end of the expected price range of $11 to $13 per share. It raised approximately $63.8 million in the offering.
All of the shares are being offered by Vancouver, Washington-based Papa Murphy's. Certain selling stockholders are giving the underwriters a 30-day option to buy up to an additional 874,999 shares to cover any excess demand.
The stock is trading under the "FRSH" ticker symbol.