Jersey Mike's completes IPO on NYSE, raising about $301 million

Jersey Mike's Subs Inc. (NYSE: JMKE) completed its initial public offering on July 31, 2026, selling 43,478,261 shares of Class A common stock at a net price of $21.85 per share after underwriting discounts.

The company issued 13,782,609 shares in the offering, generating approximately $301 million in proceeds. Those funds were used to purchase an equivalent number of newly issued common units from Jersey Mike's HoldCo, LLC, which in turn applied the capital to repay a portion of outstanding debt under its Series 2026-1 Notes. The debt consists of $250 million in Series 2026-1 4.952% Fixed Rate Senior Secured Notes, Class A-2-I, and $510 million in Series 2026-1A 5.481% Fixed Rate Senior Secured Notes, Class A-2-II.

The company said it will not receive proceeds from shares sold by certain pre-IPO owners in the offering.

In connection with the IPO, the company entered into several agreements dated July 29, 2026, including a Tax Receivable Agreement, an Exchange Agreement, a Registration Rights Agreement, and a Stockholders Agreement with entities affiliated with Blackstone Inc.

The company's board also adopted a 2026 Omnibus Incentive Plan and a 2026 Employee Stock Purchase Plan, both effective July 29, 2026. Matthew Bromberg was appointed to the board as a Class I director on the same date, with an annual cash retainer of $125,000 and an initial restricted stock unit award valued at $125,000.

The company's authorized capital stock includes 10 billion shares of Class A common stock, 10 billion shares of Class B common stock, and 1 billion shares of preferred stock, each with a par value of $0.0001 per share.

You May Also Be Interested In

• Bessent: We Make A Market Buying Older Bonds
• Vishay launches 45 mm inductive encoder for industrial use
• US consumers’ inflation outlook steady in August, Fed report shows