Get ready for the most mouthwatering IPO of 2015.
Shake Shack, the fast-growing burger chain, filed paperwork with the Securities and Exchange Commission on Monday to raise up to $100 million in a public offering.
The high-end burger shop was founded more than a decade ago by serial restauranteur Danny Meyer and gained press for its seemingly never-ending lines. There are now more than 60 Shake Shack locations, a little less than half of which are franchised shops outside the U.S.
During the first three quarters of this year, Shake Shack generated $78.9 million in sales and another $4.8 million from licensing, bring its total revenue to $83.75 million. That's up about 40% from the $59.5 million in total revenue it during the same period a year earlier.
Shake Shack posted a profit of $3.5 million for the first three quarters of this year. In 2013, it reported a profit of $5.4 million on revenue of $82.4 million.
The Shake Shack IPO had been rumored for months. One earlier report said Shake Shack was shooting for a $1 billion valuation.