Jersey Mike’s Subs plans to raise $1.09 billion in an initial public offering to debut on the New York Stock Exchange.
Jersey Mike’s Subs, the second-largest sub sandwich chain in the world, plans to launch an initial public offering to raise up to $1.09 billion. The Tinton Falls, NJ-based company will offer approximately 43.5 million shares priced between $21 and $25 each. If the offering hits the high end of the range, the company will reach a market value of nearly $8 billion. The filing with the Securities and Exchange Commission shows that asset manager Blackstone and the Abu Dhabi Investment Authority hold a majority stake in the chain. Following the investment, former Wingstop CEO Charlie Morrison took over as leader, while Peter Cancro moved into the role of chairman. Despite a challenging market for food and beverage companies, Jersey Mike’s reported an 11% revenue increase to $724 million in 2025. The company plans to list on the New York Stock Exchange under the ticker symbol JMKE. Morgan Stanley, Jefferies Financial Group, and JPMorgan Chase are leading the offering.