February 9, 2015
Willkie represents Select Equity Group L.P., a major shareholder in Shake Shack, in connection with the IPO.
Willkie represented Select Equity Group L.P., a major shareholder in Shake Shack, in connection with Shake Shack’s IPO. Shake Shack Inc. announced on Feb. 4 the closing of its initial public offering of 5,750,000 shares of its Class A common stock at a public offering price of $21.00 per share. The number of shares issued at closing included the exercise in full of the underwriters’ option to purchase 750,000 additional shares. All of the shares were offered by Shake Shack. Shake Shack received approximately $112.3 million in proceeds from the offering, net of underwriting fees, but before estimated offering expenses.
Shake Shack® is a modern day “roadside” burger stand known for serving high-quality food at a good value, including burgers, hot dogs, frozen custard, crinkle cut fries, beer and wine. The company seeks to create a fun and lively gathering place, and emphasizes the use of premium ingredients, progressive hiring practices, environmentally responsible designs and deep community investment. The original Shack opened in 2004 in New York’s Madison Square Park, and has opened additional company-operated Shacks in 11 states, as well as licensed Shacks in Europe and the Middle East.
The Willkie deal team representing Select Equity Group was led by Robert Stebbins and included James Brown (tax). Willkie also represented Select Equity Group in its initial investment in Shake Shack.