Jersey Mike's Prices IPO at $23 Per Share, Targeting $1 Billion Raise

Jersey Mike’s Subs Inc. priced its initial public offering at $23.00 per share, setting the stage for its public market debut on the New York Stock Exchange, the company announced in a press release. The offering consists of 43,478,261 shares of Class A common stock, positioning the sandwich chain to raise approximately $1 billion before underwriting discounts.

Offering Details

Shares are expected to begin trading on the NYSE on July 30, 2026, under the ticker symbol JMKE. The offering is anticipated to close on July 31, 2026, subject to customary closing conditions, according to the announcement.

Key details of the IPO include:

• Total Shares Offered: 43,478,261 shares of Class A common stock.
• Over-allotment Option: Underwriters have a 30-day option to purchase up to an additional 6,521,739 shares from existing stockholders at the IPO price.

Use of Proceeds

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The offering is a combination of new and existing shares. Jersey Mike's stated it is issuing 13,782,609 new shares and intends to use the net proceeds to repay certain debt and for general corporate purposes.

The company will not receive any proceeds from the sale of shares by existing stockholders, which make up the majority of the offering. The U.S. Securities and Exchange Commission (SEC) declared the company's registration statement on Form S-1 effective on July 29, 2026.

Company Background

Based in Tinton Falls, New Jersey, Jersey Mike's operates a network of more than 3,300 franchise locations across the United States and Canada. The IPO is being managed by a syndicate of major banks, with Morgan Stanley, Jefferies, and J.P. Morgan serving as global coordinators and joint bookrunning managers. Barclays and Guggenheim Securities are also acting as co-global coordinators.