Jersey Mike’s Subs publicly filed a registration statement on Form S-1 with the SEC for a proposed initial public offering of its Class A common stock, according to CNBC. The company plans to list on the New York Stock Exchange under the ticker symbol “JMKE.” The number of shares to be sold and the expected price range for the proposed offering have not yet been determined.
The proposed IPO is subject to market conditions and the SEC declaring the registration statement effective. Jersey Mike’s said there is no assurance as to whether or when the offering may be completed or what the final size or terms will be.
The filing follows Jersey Mike’s confidential IPO submission earlier this year and comes after Blackstone acquired a majority stake in the company in 2024. Reports have indicated that Jersey Mike’s could seek to raise more than $1 billion at a valuation of at least $12 billion.
Jersey Mike’s has more than 3,300 locations and is largely franchised. The company reported strong growth in recent years, including 50% cumulative same-store sales growth from 2020 to 2025.
In 2025, Jersey Mike’s generated about $4.3 billion in systemwide sales, up 13% from the prior year. Revenue rose to approximately $724 million, while net income increased to about $55 million from $5 million the prior year.
The company also has a development pipeline of more than 1,600 stores, with existing franchise owners expected to open more than 90% of those locations. Jersey Mike’s has also outlined international expansion plans, including growth in Canada, the United Kingdom, and Ireland.
Support: Morgan Stanley, Jefferies, and J.P. Morgan are acting as global coordinators and joint bookrunning managers for the proposed offering. Barclays and Guggenheim Securities are acting as co-global coordinators.
