By  on October 22, 2010

After pricing at the high end of its expected range, Vera Bradley Inc. ended its first day of over the-counter trading by spiking up 55.3 percent in its initial public offering debut.

The 28-year-old handbag and accessories firm, founded by Barbara Bradley Baekgaard and Patricia R. Miller, priced its IPO of 11 million shares of common stock at $16 a share, raising $176 million. The shares, which trade under the symbol “VRA,” opened at $23 and closed at $24.85.

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