Jersey Mike's files for IPO

The company is reportedly seeking to raise $1 billion at a valuation of at least $12 billion.

Jersey Mike's currently operates more than 3,000 locations and has become a major player in the competitive fast-casual dining segment.

The timing of the IPO suggests the company is looking to capitalize on strong consumer demand despite broader economic uncertainty.

Blackstone's involvement has provided the capital necessary for the chain's aggressive expansion into new global markets.