The sandwich chain’s public listing raised $913 million, falling slightly below its $23 IPO target price.
Jersey Mike’s began trading on the New York Stock Exchange under the ticker JMKE at $21 per share, valuing the company at $7.3 billion. The offering included over 43 million shares, raising $913 million, though it opened below its $23 IPO price target.
The chain, backed by Blackstone and the Abu Dhabi Investment Authority, reported systemwide sales of $4.3 billion in 2025, a 13% year-over-year increase. Same-store sales grew 50% from 2020 to 2025, with 3% growth in 2025 alone, extending nearly two decades of positive performance.
Jersey Mike’s, which franchises 99% of its 3,300 U.S. locations, plans to expand to 7,500 domestic stores, citing further growth potential.