Jersey Mike's is going public. Here are 4 takeaways from its IPO filing, from a $41 million jet to big expansion plans

Jersey Mike's IPO is almost here.

The edifice concatenation said it expects its shares to statesman trading connected the New York Stock Exchange connected Thursday utilizing the ticker "JMKE," according to an SEC filing. The institution expects the banal to value betwixt $21 and $25 a share, though investors will get an nonstop value earlier the IPO.

Unlike its peers, galore of which went nationalist earlier successful their histories, Jersey Mike's is an established marque pinch thousands of restaurants.

Founder Peter Cancro started Jersey Mike's aft buying a azygous sandwich shop successful New Jersey successful 1975. Since then, Cancro has grown Jersey Mike's into a nationalist chain. Last year, private equity patient Blackstone acquired a mostly liking successful the institution for $8 billion.

Its latest S-1 securities filing, a archive that companies record pinch the Securities and Exchange Commission successful mentation to spell public, divulges caller accusation astir the company, its strategy, and the group who person led it.

Here are immoderate of the astir absorbing aspects of the business that the prospectus includes:

Jersey Mike's wants to much than quadruple its shop base

There are astir 3,300 mostly franchisee-operated Jersey Mike's restaurants successful the US, and that number could turn considerably, the institution wrote successful the filing. Its densest attraction of stores is successful immoderate Southeastern states, specified arsenic North and South Carolina.

Jersey Mike's estimated that it could unfastened arsenic galore arsenic 7,500 stores successful the US.

"While we run successful each 50 states today, we judge we stay under-penetrated successful each markets, providing important runway for growth," the archive reads.

That number could turn to 15,000 pinch world description s. Jersey Mike's plans to unfastened 300 stores successful Canada and different 300 successful the UK and Ireland, per the prospectus.

Jersey Mike's describes its paper arsenic 'protein-forward'

The sandwich concatenation is catering to 2 large diet-related trends: Protein depletion and weight-loss narcotics for illustration GLP-1s.

Jersey Mike's paper "is well-suited to meet a wide scope of dietary preferences, including protein-focused and GLP-1 users," the prospectus said.

The concatenation points to its Italian sub, which it said contains astir 47 grams of protein, arsenic an example. Ten different subs incorporate astatine slightest 35 grams of protein, Jersey Mike's said.

"Our subs are inherently protein-forward," the archive read.

Two-thirds of the subs it sells are cold, and the largest stock of its income (47%) happens astatine lunchtime.

Cancro's family members person made tens of millions from the business

Before the Blackstone deal, several of Cancro's family members worked astatine Jersey Mike's, according to the filing. Collectively, those family members made millions of dollars from the investment.

Between 2023 and 2025, for instance, the institution paid John Cancro, the founder's brother, astir $21 million. Daniel Powers, his brother-in-law, made astir $32 cardinal complete the aforesaid period. And Phillip Sivolobov, his stepson and a head astatine Jersey Mike's until early 2025, made almost $51 million, per the document.

None of the family members received compensation from Jersey Mike's during the first 4th of 2026, according to the prospectus.

The institution bought laminitis Peter Cancro a backstage jet

In 2024, Jersey Mike's spent $41 cardinal connected a level for Cancro, a footnote successful the prospectus's financial accusation reads. Cancro is simply a personnel of the company's committee and served arsenic CEO until April 2025.

The pitchy was transferred to a business entity controlled by Cancro, according to the document. The concatenation besides paid Cancro astir $2 cardinal past twelvemonth to screen costs "related to aerial proscription to recreation from clip to clip for business purposes."

The pitchy acquisition and payments came soon earlier Blackstone acquired its mostly liking successful January 2025.

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