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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