FORT WAYNE, Ind. (Indiana's NewsCenter) -- Vera Bradley Inc. announced Friday that the underwriters of the company’s initial public offering have used its option to buy an additional 1.65 million shares at $16 each to cover high demand.
That puts the Fort Wayne-based company’s IPO total at 12.65 million shares, including 4 million sold by the company and 8.65 million sold by various shareholders. The total amount raised, before banking fees, is now more than $202 million. It plans to use the funds to pay notes due to shareholders.
In after-hours trading Friday, the company's shares increased after ending the regular session at $26.90, up $2.05 or 8.3 percent.
The company’s stock trades under the VRA ticker on the Nasdaq stock market. Friends Barbara Bradley Baekgaard and Patricia R. Miller founded Vera Bradley in 1982.
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