Jersey Mike's Subs, the Blackstone-backed sandwich chain, has filed for an initial public offering targeting up to an estimated $1 billion. This move signals a potential rebound in US listing activity, with the company aiming to leverage its growth to tap public markets. The filing comes after a period of significant expansion for the fast-casual eatery.

The franchise, known for its fresh-sliced meats and in-store baked bread, boasts over 3,300 locations across the United States. Revenue primarily stems from royalties and advertising fees tied to systemwide sales, reflecting a franchise-heavy model. The company reported $714 million in revenue for the twelve months ending March 31, 2026, and plans to list on the NYSE under the symbol JMKE.

Founded in 1956 and headquartered in Tinton Falls, New Jersey, Jersey Mike's has also initiated international expansion, with development agreements in the UK and Ireland. The extensive list of joint bookrunners indicates strong Wall Street interest in the offering. The IPO's success will depend on market appetite for restaurant stocks and Jersey Mike's ability to demonstrate continued growth potential, especially amidst evolving consumer dining habits.