The hamburger chain Shake Shack will be making its initial public offering at $21 per share, which is $2-$4 higher than the original proposed range. So far the company has sold 5 million shares to the tune of $105 million in raised capital.
More investment may be on the way with the managing banks involved in Shake Shack’s IPO planning on purchasing 750,000 more shares. Shake Shack is a burger joint that emphasizes its use of natural ingredients and made-to-order burgers. What began in 2001 as a food cart in Manhattan is now a multinational corporation with 63 locations in nine different countries.