Blackstone Pledges 54.3% of Jersey Mike's in $1.09B Margin Loan
JMKE is trading near its 52-week low of $18.6 (3.7% above the low).
Summary
Blackstone affiliates pledged a majority stake in Jersey Mike's as collateral for a $1.09 billion margin loan, creating potential forced-sale risk if they default.
Key Events · Ownership and Investor Activity · JMKE
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Blackstone Pledges Majority Stake
Affiliates of Blackstone pledged 127,631,450 Class A shares, 44,990,370 Class B shares, and 44,990,370 common units as collateral for margin loans totaling approximately $1.09 billion.
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Collateral Represents 54.3% of Class A
The pledged collateral represents approximately 54.3% of issued and outstanding Class A common stock on an as-exchanged basis, giving lenders a claim on a controlling stake.
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Foreclosure Risk on Default
If Blackstone affiliates default under the loan agreements, lenders may foreclose on all pledged shares and units, potentially triggering a large forced sale of Jersey Mike's stock.
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Company Not a Party to Loans
Jersey Mike's has no obligations under the loan documents but delivered letter agreements to lenders agreeing not to materially hinder or delay exercise of remedies.
Analysis · JMKE · Trade & Services
Blackstone affiliates have borrowed approximately $1.09 billion against 127.6 million Class A shares, 45.0 million Class B shares, and 45.0 million common units — roughly 54.3% of the company's outstanding Class A stock on an as-exchanged basis. The pledged collateral is subject to foreclosure if the borrowers default. This creates a significant overhang: a forced sale of that stake could flood the market with shares and pressure the stock, which is already trading near its 52-week low. The company is not a party to the loan and has no obligations under it, but it has agreed not to hinder lenders' remedies.
How filings like this one have moved
In the 30 days to Oct 17, 2026, 36.8% of the 985 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.66%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, JMKE was trading at $19.28 on NYSE in the Trade & Services sector, with a market capitalization of approximately $6.1B. The 52-week trading range was $18.60 to $24.99. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.