Blackstone pledges 54.3% of Jersey Mike's shares in $1.09B margin loan

Jersey Mike's Subs Inc.

Blackstone affiliates borrowed ~$1.09B under margin loan agreements dated Sept 16, 2026 with Morgan Stanley Senior Funding as admin agent.
Pledged collateral: 127,631,450 Class A shares, 44,990,370 Class B shares, and 44,990,370 HoldCo common units.
Pledged shares/units equal ~54.3% of outstanding Class A stock on a converted, as-exchanged basis.
Company is not a party to loans but agreed not to materially hinder or delay lender remedies under pledge agreements.
Loan agreements include customary default provisions allowing foreclosure on pledged collateral upon default.

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