Jersey Mike's IPO Opens Below Offer as Stock Falls 6% on Debut
Jersey Mike's Subs began trading on the New York Stock Exchange under the ticker JMKE, with an offering price of $23 per share that raised roughly $1 billion and valued the 3,300‑location sandwich chain at about $7.3 billion. The debut was the largest U.S. consumer IPO of 2026. The stock opened at $21 per share, fell about 3 % during the session and closed down nearly 6 % at $21.63.
The IPO was ten‑times oversubscribed and used a dual‑class share structure that leaves Blackstone with roughly two‑thirds of voting control. CEO Charlie Morrison said the brand will continue expanding toward a goal of 15,000 locations worldwide, with a master franchise agreement for the United Kingdom and Ireland already signed. Founder Peter Cancro, now master franchisee for those markets, also attended the NYSE opening ceremony.
Entities: Blackstone · Charlie Morrison · Jersey Mike's Subs · New York Stock Exchange · Peter Cancro
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 2 SOURCES] Jersey Mike's was valued at about $7.3 billion after the IPO.
- [● 2 SOURCES] Jersey Mike's IPO was priced at $23 per share.
- [● 2 SOURCES] The offering raised approximately $1 billion.
- [DISPUTED] The shares fell roughly 3 % during the session and closed down nearly 6 % at $21.63.
- [○ 1 SOURCE] Blackstone retained about two‑thirds of voting control after the offering.
- [● 2 SOURCES] It was the largest U.S. consumer IPO of 2026.
- [DISPUTED] The stock opened at $21 per share on its first day of trading.
- [● 2 SOURCES] The IPO was ten‑times oversubscribed.