Jersey Mike's Kicks Off IPO Roadshow, Targeting NYSE Listing Under 'JMKE'

Fast-casual sandwich chain Jersey Mike’s Subs Inc. has initiated the roadshow for its proposed initial public offering, setting a price range of $21.00 to $25.00 per share. The company intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “JMKE”.

Offering Details

According to a company press release, the IPO consists of 43,478,261 shares of Class A common stock being offered by Jersey Mike's and certain existing stockholders. At the top end of the proposed price range, the offering could raise approximately $1.09 billion.

• Selling stockholders are also expected to grant underwriters a 30-day option to purchase up to an additional 6,521,739 shares to cover potential over-allotments.
• If this option is fully exercised at the maximum price, the total proceeds from the offering could reach approximately $1.25 billion.

A registration statement on Form S-1 has been filed with the U.S. Securities and Exchange Commission (SEC) but has not yet become effective, meaning the shares cannot yet be sold.

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Underwriters and Company Background

A large syndicate of prominent financial institutions is managing the offering, indicating significant institutional interest. Morgan Stanley, Jefferies, and J.P. Morgan are acting as global coordinators and joint bookrunning managers. Barclays and Guggenheim Securities are also serving as co-global coordinators.

Founded in 1956 in Point Pleasant, New Jersey, Jersey Mike's operates as a restaurant franchisor in the fast-casual sector. The company has grown to more than 3,300 locations across the United States and Canada, and its public debut will be a significant test of investor appetite for established restaurant brands in the current market.