Jersey Mike's Stock Falls 2% in IPO Debut After Pricing at $23
Jersey Mike's shares fell 2% in their public market debut on Wednesday, opening two dollars below the $23 initial public offering price.
The sandwich chain priced the listing at the midpoint of its expected range, raising about $1 billion for the business and some of its shareholders. Trading began shortly after investor demand had exceeded the number of available shares by more than 10 times.
From the sources (10 posts)
@businessJersey Mike’s IPO has attracted investor demand for more than 10 times the available shares ahead of pricing on Wednesday, according to people familiar with the matter
@cointelegraph⚡️ NEW: Kraken is opening the Jersey Mike’s IPO to retail investors through direct allocations and tokenized shares backed 1:1 by the underlying stock.
@businessJersey Mike’s Subs and some of its shareholders raised $1 billion in an IPO that priced at the midpoint of its marketed range
@stockmktnewzJersey Mike’s priced it’s IPO in the middle of its expected range
@wallstengineJERSEY MIKE’S IPO PRICES AT $23/SHR, MIDDLE OF RANGE
@cnbcJersey Mike's is about to go public. One analyst already says the sandwich chain is a buy
@stockmktnewzJersey Mike's is going public today Apparently, they were 10x oversubscribed but only priced the IPO in the middle of its expected range???? That doesnt feel right
@stockmktnewzJersey Mike's $JMKE is now a public company
@cnbcJersey Mike's stock falls 2% in public market debut after pricing shares at $23
@yahoofinance$JMKE is live. The chain's official debut price rang in at $2 less than its IPO price.