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Stock impact report

Potbelly acquired by convenience store operator RaceTrac for $566 million [MSNBC.com]

Potbelly Corporation (PBPB) 
Last potbelly corporation earnings: 2/25 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.potbelly.com/investor-relations
Company Research Source: MSNBC.com
Sandwich shop chainPotbellyThe deal is expected to close in the fourth quarter of the year. Shares of Potbelly shot up more than 30% following the announcement.The Chicago-based"RaceTrac's strategic vision including their commitment to quality align perfectly with our mission to delight customers with great food and good vibes," Potbelly CEO Bob Wright said in a statement. "We have positioned Potbelly for accelerated franchise-led growth in recent years, and this transaction fortifies our path while delivering certain and immediate value to our shareholders."The deal will value Potbelly shares at $17.12 each, marking a roughly 47% premium to Potbelly's price as of Tuesday. The company's stock is up more than 75% this year.Wednesday's deal is RaceTrac's second significant acquisition, after its2023 deal Show less Read more
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