Jersey Mike's Subs files for IPO on NYSE under ticker JMKE

Jersey Mike's Subs Inc. has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol "JMKE," according to an S-1 filing submitted to the Securities and Exchange Commission.

The sandwich chain plans to offer two classes of common stock following the IPO: Class A and Class B. Each share of both classes carries one vote per share. The filing does not specify a price range or share count, as those details remain blank in the current prospectus.

Jersey Mike's Subs Inc. intends to use its proceeds from the offering to acquire newly issued Common Units from Jersey Mike's HoldCo, LLC, which will in turn use the funds for debt repayment and general corporate purposes. The company will not receive proceeds from shares sold by existing selling stockholders.

After the offering, entities controlled by affiliates of Blackstone Inc. will hold a majority of the combined voting power, making Jersey Mike's Subs a "controlled company" under NYSE corporate governance standards.

Morgan Stanley, Jefferies, and J.P. Morgan are serving as global coordinators and joint bookrunning managers. Barclays and Guggenheim Securities are co-global coordinators. A number of additional banks, including Goldman Sachs, BofA Securities, and Wells Fargo Securities, are listed as joint bookrunning managers.

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