Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

The Associated Press October 22, 2010, 5:31PM ET

Vera Bradley sees strong demand for IPO

Handbag and accessories maker and seller Vera Bradley Inc. said Friday that the underwriters of its initial public offering tapped its option to buy 1.65 million more shares to cover high demand.

That brought the offering to 12.65 million shares in all, with 4 million sold by Vera Bradley and 8.65 million by shareholders.

On Thursday, the company said it priced the shares at $16 apiece, raising $176 million. It plans to use the funds to pay notes due to shareholders.

Vera Bradley's bags are sold in the company's 35 stores and 3,300 other stores.

R.W. Baird and Piper Jaffray were lead managers on the deal.

The company's shares edged up in after-hours trading Friday after ending the regular session at $26.90, up $2.05 or 8.3 percent.


BW Mall - Sponsored Links

Buy a link now!