Jersey Mike's Subs Inc. has commenced a roadshow for a proposed initial public offering of 43,478,261 shares of Class A common stock, with the IPO price expected to range between $21.00 and $25.00 per share.

The company and certain existing stockholders are selling the shares, according to a press release. Selling stockholders are also expected to grant underwriters a 30-day option to purchase up to an additional 6,521,739 shares to cover over-allotments at the IPO price, less underwriting discounts and commissions.

Jersey Mike's plans to list its Class A common stock on the New York Stock Exchange under the ticker symbol "JMKE."

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

A registration statement on Form S-1 has been filed with the Securities and Exchange Commission but has not yet become effective.

Jersey Mike's, founded in 1956 in Point Pleasant, New Jersey, operates as a fast-casual restaurant franchisor with more than 3,300 locations across the United States and Canada.