Jersey Mike's Subs files for initial public offering
Jersey Mike's Subs Inc. has filed a Form S-1 registration statement with the SEC for an IPO of its Class A common stock, planning to list on the NYSE under the ticker JMKE. The share count and price range are undetermined. Major underwriters include Morgan Stanley, Jefferies, and J.P. Morgan as global coordinators.
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Jersey Mike's Subs Inc. has publicly filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock. The company intends to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol "JMKE." The number of shares to be sold and the price range for the proposed offering have not yet been determined, and the completion of the offering is subject to market conditions and the effectiveness of the registration statement.
Morgan Stanley, Jefferies, and J.P. Morgan are acting as global coordinators and joint bookrunning managers for the proposed offering. Barclays and Guggenheim Securities are serving as co-global coordinators and joint bookrunning managers. A syndicate of additional firms has been appointed to manage the offering, including BofA Securities, Goldman Sachs & Co. LLC, and Evercore ISI.
Underwriting Roles
The proposed offering involves a extensive syndicate of financial institutions. The following table outlines the key roles assigned to the underwriters:
| Role | Underwriters |
|---|---|
| Global Coordinators & Joint Bookrunning Managers | Morgan Stanley, Jefferies, J.P. Morgan |
| Co-Global Coordinators & Joint Bookrunning Managers | Barclays, Guggenheim Securities |
| Joint Bookrunning Managers | BofA Securities, Goldman Sachs & Co. LLC, Evercore ISI, UBS Investment Bank, Baird, Wells Fargo Securities, William Blair, RBC Capital Markets, Deutsche Bank Securities, Wolfe | Nomura Alliance, Piper Sandler, Raymond James, Stifel, TD Securities, BTIG, Mizuho, Societe Generale, Truist Securities |
| Co-Managers | Blackstone, Loop Capital Markets, Tigress Financial Partners |
The registration statement has been filed with the Securities and Exchange Commission but has not yet become effective. No offers to buy or sales of these securities may be made prior to the time the registration statement becomes effective. The preliminary prospectus will be available from the lead underwriters, including Morgan Stanley, Jefferies, and J.P. Morgan, once filed.
How will Jersey Mike's IPO pricing compare to recent restaurant industry offerings?
What impact could current market conditions have on the timing of the IPO?
How will the proceeds from the IPO be allocated by the company?
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