Where can I find Jersey Mikes' audited financial statements as of December 31, 2024?
Jersey_Mikes Franchise · 2025 FDDAnswer from 2025 FDD Document
are $7,014,486 related to intangible asset acquisitions, $2,000,000 related to intangible asset capital contributions, and $397,000 related to unearned franchise fees.
10. SUBSEQUENT EVENTS
The Company has evaluated events through March 14, 2025, the date these financial statements were available for issuance, for consideration as a subsequent event to be included in the accompanying financial statements.
On November 8, 2024, the Master Issuer and its equity holders entered into an Equity Purchase Agreement with Submarine Buyer LLC (the "Buyer"), a Delaware limited liability company controlled by affiliates of Blackstone Inc. Pursuant to the Equity Purchase Agreement, Jersey Mike's Inc. ("Seller") formed a new Delaware limited liability company, Jersey Mike's HoldCo LLC, to indirectly hold 100% of the equity interests of the Company (the "Transaction"). On January 16, 2025, the Master Issuer was acquired for an enterprise value of $8.0 billion which includes a maximum additional $250 million in cash and is payable upon reaching certain earnout conditions or upon a change in control event. As of the date these financial statements are available to be issued, the preliminary purchase price allocation accounting for the Transaction is not yet complete. The Master Issuer expects to finalize its analysis within the measurement period (up to one year from the acquisition date) of the Transaction. As par
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 76–77)
What This Means (2025 FDD)
According to Jersey Mike's 2025 Franchise Disclosure Document, the consolidated financial statements as of December 31, 2024, along with the Independent Auditor's Report, can be found as Exhibit C-2 to the Disclosure Document. These statements include the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated statements of operations, comprehensive income, changes in deficit, and cash flows for the years then ended, and the related notes to the consolidated financial statements.