Private equity-backed sandwich maker Potbelly has raised more than $100m for its IPO after selling 7.5m shares at $14 each.
The firm had filed to raise $75 at the end of August, although that figure was just indicative to calculate fees associated with the listing.
Potbelly, which is backed by Maveron Equity Partners, American Securities and Oak Investment Partners, hired Goldman Sachs and Bank of America to lead the listing almost a year ago.
Maveron owned more than 28 per cent of the business pre-IPO, American Securities about 13 per cent and Oak Investment just over 12 per cent.
Potbelly had 286 shops across 18 US states at the end of June according to a filing with the US Securities and Exchange Commission, and had a $24m net profit last year on $274.9m of revenues.
The company listed its common stock on the Nasdaq exchange under the symbol PBPB.
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