Jersey Mike’s Subs announced the pricing of its initial public offering of 43,478,261 shares of Class A common stock at $23.00 per share. The offering values the share sale at more than $1 billion.
Existing stockholders have granted the underwriters a 30-day option to purchase up to an additional 6,521,739 shares to cover over-allotments at the IPO price. Jersey Mike’s Class A common stock is expected to begin trading on the New York Stock Exchange on July 30, 2026, under the ticker symbol “JMKE,” with the offering expected to close on July 31, 2026.
Jersey Mike’s intends to use the net proceeds from the issuance of 13,782,609 shares to repay certain indebtedness and for general corporate purposes. The company will not receive any proceeds from the sale of shares by the selling stockholders, including from any exercise of the underwriters’ option to purchase additional shares from those stockholders.
Morgan Stanley, Jefferies, and J.P. Morgan are acting as global coordinators and joint bookrunning managers for the offering. Barclays and Guggenheim Securities are acting as co-global coordinators and joint bookrunning managers, with a broader group of banks serving as joint bookrunning managers and co-managers. A registration statement on Form S-1 relating to the offering was declared effective by the Securities and Exchange Commission on July 29, 2026.
Jersey Mike’s Subs is a fast-casual restaurant franchisor with more than 3,300 locations across the United States and Canada. Founded in 1956 as Mike’s Subs in Point Pleasant, New Jersey, the company has grown into one of the fastest-growing restaurant brands in America and was recognized as the number one best sandwich chain in America in 2025.
