Blackstone-Backed Jersey Mike's Files for IPO on NYSE, Targets $12B+ Valuation
- Jersey Mike's Subs filed an S-1 with the SEC to list Class A shares on the NYSE under the ticker "JMKE," with Morgan Stanley, Jefferies, and JPMorgan as lead bookrunners.
- The Blackstone-controlled sandwich chain operates about 3,300 mostly franchised locations and generated average unit volumes near $1.4M in fiscal 2025; Blackstone will retain majority voting power post-IPO.
- The deal, expected to raise over $1B at a $12B+ valuation, is the latest signal of a thawing US listings market after Bending Spoons' $1.68B Nasdaq debut and the Cboe KPI-options filing.