Shake Shack Burger Chain Raises IPO Terms

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Shake Shack, a fast causal burger joint, has announced updated plans for its initial public offering.

shake-shack-185Shake Shack said that it will be offering 5.75 million shares when it makes its IPO this week. The company expects these shares to be priced between $17 and $19 a share. This could have the company raising up to $109.25 million, reports MarketWatch.

This is an increase over the company’s previous IPO plans. These plans had it offering 5 million shares with them being priced at $14 to $16 a share. This plan would have had the company raising up to $80 million, MarketWatch notes.

Shake Shack’s IPO is expected to start on Thursday after markets close and will be up for trade on Friday. The company will trade on the New York Stock Exchange and will use “SHAK” as its stock ticker, reports Fortune.

Shake Shack started as a hot dog cart in Madison Square Park in 2001. In 2004 it was decided that the cart would become a permanent kiosk in the area and the first official location was built.

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