Freshii raises $96M in IPO
Freshii Inc. raised $96 million in an initial-public offering in its home city of Toronto on Tuesday in what some hope will jumpstart an IPO market that has been stalled for well over a year.
The Toronto-based healthy fast-casual chain sold 10.9 million shares at $11.50 Canadian — raising $125.4 million in Canadian dollars, or $96 million U.S.
Freshii will receive $38.5 million in U.S. dollars from the offering, while shareholders will receive $57.7 million. The stock rose 6 percent on Tuesday, or $12.22 per share in Canadian dollars.
“The IPO is not the finish line for us,” the chain’s