Jersey Mike's Completes NYSE Debut, Prices IPO at $23 Per Share

Jersey Mike’s Subs Inc. has closed its initial public offering, pricing nearly 43.5 million shares of its Class A common stock at $23.00 per share. The company's stock began trading on the New York Stock Exchange on July 30, 2026, under the ticker symbol JMKE.

Offering Details

The IPO consisted of a total of 43,478,261 shares. Of this amount, 13,782,609 shares were newly issued by Jersey Mike's, raising approximately $317 million in gross proceeds for the company. The remaining shares were sold by existing stockholders, from which the company will not receive any proceeds.

The offering's total value, based on the IPO price, is approximately $1 billion. According to the company, a registration statement on Form S-1 for the securities was declared effective by the U.S. Securities and Exchange Commission on July 29, 2026.

Use of Proceeds and Underwriters

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Jersey Mike's stated in a press release that it intends to use its net proceeds from the offering to repay certain outstanding debt and for general corporate purposes. The transaction was managed by a consortium of investment banks.

Morgan Stanley, Jefferies, and J.P. Morgan acted as global coordinators and joint bookrunning managers. Barclays and Guggenheim Securities also served as co-global coordinators and joint bookrunning managers for the offering.

Company Background

Founded in 1956 in Point Pleasant, New Jersey, Jersey Mike's has grown into a major player in the fast-casual restaurant sector. The company operates a franchise-based model with more than 3,300 locations across the United States and Canada.