Update IPO Jersey Mike's (JMKE)

Stock Code & Listing: JMKE on NYSE, target listing 30 July 2026 .
IPO Price: $21 - $25 per share, target to raise up to $1.09 billion .
Valuation: At the peak price, the valuation touches $7.94 billion .
Number of Shares: Offer 43.5 million shares (29.7 million from existing shareholders, 13.8 million from the company) .
Use of Funds: IPO proceeds will be used to pay down debt (long-term debt reaching $2.1 billion) .
Controlling Shareholders: Blackstone (majority) and Otoritas Investasi Abu Dhabi .

Schedule & How to Join

Platform Time (WIB) Method Minimum
Gate.io (USDT/GUSD) 27–29 July 2026 Lock assets in your account 100 USDT/GUSD
Winterflood (UK) 20–28 July 2026 Via broker

Gate.io is “Indicative Interest,” meaning interest, not a guarantee of getting shares. If Gate doesn’t get an IPO allocation, your funds are returned + you earn 3.8% interest per year (for USDT only) .

Valuation & Financial Performance

Premium Valuation: Valuation (EV/EBITDA ~24x) is higher than other restaurants such as Cava or Sweetgreen .
Solid Performance (2025): Revenue $724 million** (+11%), EBITDA **$339 million, and 3,300+ stores .
Lightweight Business Model: 99% franchising, high margins, aggressive expansion (1,600+ stores in the plan) .

Strengths & Weaknesses

Strengths: Strong and loyal brand, an efficient franchise model, backed by Blackstone, and aggressive expansion (Canada, UK, Ireland) .
Weaknesses: Expensive valuation, most IPO funds flow to Blackstone & existing shareholders, heavy debt burden .
Tips from me

For Short-Term Traders: A premium IPO price and high enthusiasm (especially when backed by Blackstone) could make the price surge on the first day. But remember, the 68% of shares held by existing shareholders could also create selling pressure .
As a Long-Term Investor: This is a solid business with a bright outlook, but the IPO price is no longer cheap. Enter with a small allocation (2-5% of the portfolio) could be a wise option .

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