Story perspectives

Jersey Mike's Files $100 M IPO, Targets 1,600 New Stores

7/2/2026

Summary

Jersey Mike's Launches IPO

Jersey Mike’s filed an S-1 to launch a $100 million IPO on New York Stock Exchange.
The Blackstone-owned chain reported fiscal 2025 system sales of $4.3 billion, revenue $724 million, EBITDA $327 million, and $2.1 billion long-term debt.
The chain saw same-store sales rise 50% from 2020 to 2025, with digital orders accounting for 42% of sales, operating about 3,300 U.S. and Canada stores, planning 1,600 new locations, and opening UK restaurants in London this year.

Summary

Jersey Mike's IPO

Jersey Mike’s will list on the New York Stock Exchange under the ticker JMKE.
Morgan Stanley, Jefferies and J.P. Morgan are joint book-running managers, with Barclays, Goldman Sachs and BofA Securities also participating.
The IPO proceeds will buy common units from Jersey Mike’s HoldCo, repay debt and fund general corporate purposes.
Blackstone-controlled entities will keep majority voting power, making the issuer controlled, while founder Peter Cancro retains an equity stake.

Summary

Jersey Mike's Earnings

Net income rose to $55 million on $724 million revenue last year, up from $5 million on $653 million in 2024.
Analysts say same-store sales have weakened across restaurants over the past two years.
The filing followed the SpaceX IPO that boosted confidence among private companies.
Renaissance Capital notes fewer IPOs were priced this year than a year ago.
OpenAI and Anthropic have also submitted confidential SEC filings.

History

Historical Context

Shake Shack’s 2015 NYSE debut, priced at $21 per share and jumping to $47 on its first day, showed how a fast-casual brand could attract major banks such as Morgan Stanley and Goldman Sachs. That precedent guides Jersey Mike’s 2025 IPO, which enlists Blackstone, Morgan Stanley and others to raise capital for U.S., Canadian and UK expansion.

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Jersey Mike's Launches IPO

Jersey Mike’s filed an S-1 to launch a $100 million IPO on New York Stock Exchange.
The Blackstone-owned chain reported fiscal 2025 system sales of $4.3 billion, revenue $724 million, EBITDA $327 million, and $2.1 billion long-term debt.
The chain saw same-store sales rise 50% from 2020 to 2025, with digital orders accounting for 42% of sales, operating about 3,300 U.S. and Canada stores, planning 1,600 new locations, and opening UK restaurants in London this year.

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