Jersey Mike’s IPO is reportedly more than 10 times oversubscribed ahead of Wednesday pricing, with 43.5 million Class A shares marketed at $21 to $25 and a stablecoin-based subscription route offered through Gate.io for eligible users.
Jersey Mike’s initial public offering is reportedly more than 10 times oversubscribed ahead of Wednesday’s pricing, signaling demand far above the 43.5 million Class A shares being marketed at $21 to $25 each for a New York Stock Exchange listing under the ticker JMKE. The range implies an equity valuation of about $7.3 billion at the midpoint and gross proceeds of roughly $913 million to $1.1 billion, though up to 68% of the deal consists of secondary sales by existing shareholders. Blackstone, which bought a majority stake in Jersey Mike’s in early 2025 for around $8 billion, is taking the company public through an Up-C structure, while Gate.io is offering eligible users access to a subscription window from July 27 to July 29, 2026 using stablecoins including USDT and GUSD. The listing comes as founder Peter Cancro’s decades-long expansion of the sandwich chain has grown it to 4,000 locations open and under development.