Shake Shack’s $250 Million Convertible Senior Notes Offering

Davis Polk advised the representative of the initial purchasers in the offering.

Shake Shack Inc. executed the offering of $250 million aggregate principal amount of 0% convertible senior notes due 2028, including $25 million principal amount of convertible notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible notes. Shake Shack Inc.’s common stock is listed on The New York Stock Exchange under the symbol “SHAK.”

Headquartered in New York, Shake Shack is a modern day “roadside” burger stand serving a classic American menu of premium burgers, chicken sandwiches, hot dogs, crinkle cut fries, shakes, frozen custard, beer and wine. Since the original Shack opened in 2004 in NYC’s Madison Square Park, the company has expanded to 311 locations in 15 countries and 30 states.

The Davis Polk corporate team advising J.P. Morgan Securities LLC, as representative of the several initial purchasers, included partners Deanna L. Kirkpatrick (Picture) and Yasin Keshvargar, and associates Christopher Diel and Shaoting Qin. The Davis Polk equity derivatives team included partner Mark J. DiFiore and associates Joseph Luizzi and Lindsey B. Meyers-Perez. Partner Lucy W. Farr and associate Tomislava Dragicevic provided tax advice. 

Involved fees earner: Christopher Diel – Davis Polk & Wardwell; Mark DiFiore – Davis Polk & Wardwell; Tomislava Dragicevic – Davis Polk & Wardwell; Lucy Farr – Davis Polk & Wardwell; Yasin Keshvargar – Davis Polk & Wardwell; Deanna Kirkpatrick – Davis Polk & Wardwell; Joseph Luizzi – Davis Polk & Wardwell; Lindsey Meyers-Perez – Davis Polk & Wardwell; Shaoting Qin – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: J.P. Morgan Securities LLC;

Author: Martina Bellini