IPO News: SHAKE SHACK (NYSE: SHAK) Soars on Market Debut; Investors Eating Up Those Burgers
New York NY- Point Roberts WA–January 30,2015 – (www.investorideas.com newswire,) Investorideas.com staff: Investorideas.com, a global news source covering leading sectors including food and beverage stocks reports on the market debut of Shake Shack IPO (NYSE:SHAK).
The stock is trading at $48.54, up $27.54(131.14%) as of 12:12PM EST.
The IPO consisted of 5,000,000 shares of its Class A common stock at a public offering price of $21.00 per share. In addition, Shake Shack has granted the underwriters a 30-day option to purchase from Shake Shack up to an additional 750,000 shares of its Class A common stock at the initial public offering price, less the underwriting discount.
The closing of the offering is expected to occur on February 4, 2015, subject to the satisfaction of customary closing conditions.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint lead book-running managers in the proposed offering. Barclays Capital Inc., Goldman, Sachs & Co., and Jefferies LLC are also acting as book-running managers in the proposed offering. William Blair & Company, L.L.C. and Stifel are acting as co-managers in the proposed offering.
About Shake Shack
Shake Shack® is a modern day “roadside” burger stand known for its delicious burgers, hot dogs, frozen custard, crinkle cut fries, beer, wine and more. With its fresh, simple, high-quality food at a great value, Shake Shack is a fun and lively community-gathering place with widespread appeal. From its premium ingredients and progressive hiring practices to its environmentally responsible designs and deep community investment, Shake Shack’s mission is to Stand For Something Good®. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the Company has opened additional company-operated Shacks in New York, New Jersey, Washington, D.C., Connecticut, Georgia, Illinois, Pennsylvania, Florida, Massachusetts, Virginia, and Nevada, and international licensed Shacks in London, Istanbul, Dubai and more.
Read this release in full at http://www.investorideas.com/news/2015/food-beverage/01301.asp
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