Shake Shack announces price range for its IPO
On Tuesday, Shake Shack announced its initial public offering will be priced at $14 to $16 a share. The company plans to sell five million Class A shares on the New York Stock Exchange, with the ticker symbol SHAK. The New York Times reports that Shake Shack, which operates 63 restaurants globally, expects net proceeds of $69.8 million.
Shake Shack filed to go public in December and is classified as an "emerging growth company" by the Jumpstart Our Business Start-Ups Act.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
Meghan DeMaria is a staff writer at TheWeek.com. She has previously worked for USA Today and Marie Claire.
-
8 genre-defining Black country, folk and blues musicians
The Week Recommends Keeping the legacy alive, even when the industry tries to keep them down
By Scott Hocker, The Week US Published
-
Will young people refuse to vote in the 2024 presidential election?
Today's Big Question The kids are not alright
By Anya Jaremko-Greenwold, The Week US Published
-
What reclassifying cannabis could change
The Explainer The Biden administration's move to change marijuana from a Schedule I narcotic to Schedule III could reshape the pot landscape even if it doesn't mean full federal legalization
By Rafi Schwartz, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published