Jersey Mike’s Subs has publicly filed a registration statement for its initial public offering (IPO), officially making its way to the public markets.
The company plans to list its Class A common stock on The New York Stock Exchange under the ticker symbol ‘JMKE’. The number of shares to be sold and the price range have not yet been determined.
The move follows an earlier report that the company had confidentially submitted related forms for the IPO. Bloomberg said at the time that the sandwich chain could seek to raise more than $1 billion at a valuation of at least $12 billion.
Jersey Mike’s said the proposed offering is subject to market and other conditions, and that there can be no assurance as to whether or when the offering may be completed.
According to the filing, Jersey Mike’s operates a fast-casual sub sandwich franchise with more than 3300 locations across the US and Canada. Same-store sales grew 50 per cent between 2020 and 2025, and systemwide sales soared 13 per cent to $4.3 billion last year.
Jersey Mike’s was founded in 1975 when chairman Peter Cancro purchased the original Mike’s Subs store in Point Pleasant at the age of 17.
In late 2024, private equity funds managed by Blackstone acquired a majority ownership position in Jersey Mike’s for $8 billion. Cancro maintained a significant stake and continued to lead the business.
Earlier this year, the chain secured a franchise agreement with JM Submarines to open up to 400 stores across the UK and Ireland.
