Pizza chain Papa Murphy's sets terms for $70 million IPO

Papa Murphy's, the fifth largest pizza chain in the US known for its "Take 'N' Bake" pizzas, announced terms for its IPO on Monday. The Vancouver, WA-based company plans to raise $70 million by offering about 5.8 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Papa Murphy's would command a fully diluted market value of $204 million.  

Papa Murphy's, which was founded in 1981 and booked $80 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol FRSH. It initially filed confidentially on December 16, 2013. Jefferies, Baird, and Wells Fargo Securities are the joint bookrunners on the deal.