Shake Shack, a well-known upscale fast-casual burger chain with 63 restaurants across 31 cities and nine countries, raised $105 million by offering 5 million shares at $21, above the upwardly revised range of $17 to $19. The New York, NY-based company had initially filed to offer the same number of shares at a range of $14 to $16. At the offer price, Shake Shack commands a fully diluted market cap of $751 million (enterprise value of $680 million). Shake Shack will list on the NYSE under the symbol SHAK. J.P. Morgan, Morgan Stanley, Barclays, Goldman Sachs and Jefferies & Co. acted as joint bookrunners on the deal.
