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updated: 5/2/2014 5:07 PM

Papa Murphy's rises in its Nasdaq debut

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  • Papa Murphy's Holdings, Inc., the largest Take N' Bake pizza chain in the U.S., opened for trading on The NASDAQ Stock Market on Friday.

      Papa Murphy's Holdings, Inc., the largest Take N' Bake pizza chain in the U.S., opened for trading on The NASDAQ Stock Market on Friday.
    GLOBE NEWSWIRE

 
Associated Press

NEW YORK -- Shares of Papa Murphy's rose in their first day of trading but closed well below their highest level Friday.

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.

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The stock added 5 cents to close Friday at $11.05, backing off from a session peak of $12.10 on 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. The company raised about $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.

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