Shake Shack Officially Files IPO, Looks to Raise $100 Million

You can now own stock in Danny Meyer’s extremely successful burger business
Shake Shack Officially Files IPO Valued at $100 Million

Facebook/Shake Shack

Shake Shack has been approved by the SEC to trade on the New York Stock Exchange.

Shake Shack has officially filed its initial public offering with the U.S. Securities and Exchanges Commission, which means that it’s now possible for the public to own a piece of company stock.

Shake Shack is looking to raise $100 million, and will trade on the New York Stock Exchange under the symbol SHAK.

The proposed IPO has been in the works for several months, with initial estimates valuing the company at $1 billion.

Not surprisingly, documents filed with the SEC reveal that Danny Meyer’s 10-year-old burger chain has done well for itself. According to the company’s financial overview, total revenue for the three-year fiscal period ending on December 25, 2013 grew from $19.5 million to $82.5 million.

To date, the company operates 64 locations (a Las Vegas Shake Shack opens Monday, December 29), and will continue to open Shacks “in areas where communities gather, often with high foot traffic and substantial commercial density,” according to IPO documents. 

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