Blackstone affiliates pledge Jersey Mike’s shares representing 54.3% voting stake under $1.09 billion margin loans
BX•Default could shift voting power
Lenders can foreclose on the pledged shares and units if the borrowers default, potentially shifting voting power.
Potential change-of-control risk
The pledged collateral represents about 54.3% of Class A stock on an as-exchanged basis, raising potential change-of-control risk.
Pledged shares under margin loans
Blackstone affiliates pledged Jersey Mike’s Class A and Class B shares under margin loans totaling about $1.09 billion on Sept. 16, 2026.
