#DirectIPOSeason2JerseyMikes



Jersey Mike's IPO Access Closes Early After Overwhelming Demand

Gate's second IPO Access project, Jersey Mike's ($JMKE), has closed its intent subscription channel early due to overwhelming demand . The strong interest mirrors the broader institutional response, with the IPO reportedly 10 times oversubscribed .

What Happened

The subscription window was originally scheduled to remain open until July 29. However, demand exceeded the available allocation, prompting Gate to close the channel ahead of schedule . Users who already submitted their intent subscriptions are not affected and will proceed to the allocation calculation phase after July 29, 10:00 (UTC+8) .

Understanding Intent Subscription

IPO Access operates on an "intent subscription" model, not a guaranteed allocation . Final allocation depends on the actual IPO offering and the platform's final quota . This means participants may receive full allocation, partial allocation, or none at all .

The allocation calculation follows a weighted model based on average locked amount during the subscription period . The earlier you subscribed, the higher your average locked amount, and the greater your allocation weight .

The Safety Net

If the platform ultimately receives no allocation, USDT subscribers will receive a 3.8% annualized interest subsidy on their subscription funds, calculated on an hourly snapshot basis . The subsidy will be credited alongside the returned funds. GUSD subscribers, however, earn 3.8% APR on their subscription funds regardless of allocation, so no additional subsidy is provided .

What Makes Jersey Mike's IPO Notable

Jersey Mike's, the submarine sandwich chain, has grown from a single Jersey Shore location in 1956 to over 3,300 stores across the US and Canada . The company generated approximately $724 million in revenue and $55 million in net profit in 2025, with system-wide sales approaching $4.3 billion .

The IPO is expected to raise up to $1.09 billion through the offering of 43.5 million shares priced at $21 to $25 each, giving the company a valuation of nearly $8 billion . The shares are scheduled to begin trading on the New York Stock Exchange on July 30 under the ticker "JMKE" .

What's Next

For participants, the allocation calculation begins July 29. For those who missed this opportunity, Gate has indicated that the next IPO Access project is already in the pipeline .

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