Shake Shack, a fast-casual burger chain with 36 US and 27 international locations, announced terms for its IPO on Tuesday. The New York, NY-based company plans to raise $75 million by offering 5.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Shake Shack would command a fully diluted market value of $533 million.
See a side-by-side comparison of Shake Shack, 2014 fast-casual burger chain IPO Habit Restaurants (HABT), and fast-casual king Chipotle. Habit was one of seven IPOs in 2014 that popped over 100% on its first day of trading.
Shake Shack, which was founded in 2004 and booked $107 million in sales for the 12 months ended September 30, 2014, plans to list on the NYSE under the symbol SHAK. J.P. Morgan, Morgan Stanley, Barclays, Goldman Sachs and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of January 26, 2015.
