Jersey Mike’s upcoming IPO is set to show investors the true meaning of “breadwinner.”

The market debut could bring around $742 million in proceeds to existing shareholders, according to an SEC filing, with the sub sandwich chain planning to raise $1.09 billion with shares priced at $21 to $25 each. Since its 1956 founding, Jersey Mike’s has expanded to over 3,000 domestic locations and posted 20 consecutive years of positive sales growth at locations open at least a year.

Blackstone, which holds a majority stake in the firm, will remain in control after the IPO, limiting the influence of public shareholders.

This is a published version of the Forbes Daily newsletter, you can sign-up to get Forbes Daily in your inbox here.

A federal judge temporarily blocked the $110 billion merger between Paramount Skydance and Warner Bros. Discovery, and Paramount could lose billions if the deal continues facing delays or ultimately falls through.

Shares of Google parent Alphabet surged Monday amid reports that it is planning to deploy a new chip to make its Gemini models more efficient, enriching cofounders Larry Page and Sergey Brin by a combined $15 billion.

Mark Zuckerberg overtook Michael Dell to become the world’s fifth-richest person as Dell’s stock price sank, though shares of the hardware firm have gained nearly 200% this year.

You’ve heard of health tech wearables like watches and rings—but what about sittables? That’s what startup Casana is betting will be the next billion-dollar opportunity with its smart toilet seats, which have sensors that can scan vitals........

© Forbes