Jersey Mike's Subs filed for an IPO

Jersey Mike's Subs and its existing investors have filed for an initial public offering (IPO) on the NYSE, targeting a valuation of up to $8 billion. The company aims to raise up to $1.09 billion by offering shares between $21.00 and $25.00 under the ticker symbol JMKE. 

• https://www.jerseymikes.com/ 

IPO Details

Expected Share Price: $21 to $25 per share
Ticker Symbol: JMKE
Listing Exchange: New York Stock Exchange (NYSE)
Target Capital Raised: Up to $1.09 billion (including secondary share sales from backers like Blackstone)
Underwriters: Morgan Stanley, Jefferies, and J.P. Morgan

Key Financials & Corporate Structure

Systemwide Sales: Hit $4.3 billion in 2025, marking a 13% increase.
Revenues & Profit: Reported net income of $55 million on $724 million in revenue.
Ownership Control: Private equity firm Blackstone (which bought a majority stake in early 2025) and existing stockholders are cashing out roughly 68% of the offering, but they will retain nearly two-thirds of the voting power post-IPO.