Shake Shack Unveils Expectations for IPO - East Idaho News
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Shake Shack Unveils Expectations for IPO

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012015 ShakeShackHQ?  SQUARESPACE CACHEVERSION=1421792136519Shake Shack(NEW YORK) — Burger chain Shake Shack filed new preliminary documents with the Securities and Exchange Commission on Tuesday describing its expectation for its initial public offering.

The documents filed by the company anticipate the sale of five million shares of the stock at an IPO price of $14 to $16, about the cost of two double shackburgers from the popular eatery. The company has also filed to be listed on the New York Stock Exchange under the symbol “SHAK.”

Documents previously filed with the SEC hinted at an IPO, but did not list how many shares it expected to offer or at what price.

Shake Shack began in 2001 as a single hot dog cart in Madison Square Park in New York City. Created by Danny Meyer’s Union Square Hospitality Group, the cart was a success, and in 2004, USHG won a bid to open a permanent kiosk in Madison Square Park.

There are now 62 Shake Shack locations worldwide listed on the company’s website, ranging from New York City to Beirut and Las Vegas to Moscow.

According to documents filed with the SEC, Shake Shack posted a profit of about $5.4 million in 2013, up from $4.1 million in 2014.

Shake Shack plans to use the proceeds from the IPO to repay money borrowed, open new locations and renovate existing locations.


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