Jersey Mike's Subs has confidentially filed paperwork with regulators for an initial public offering, according to reports from multiple news outlets.

The submarine sandwich chain is backed by private equity firm Blackstone, which acquired a majority stake in the company in recent years. Blackstone's involvement positions the firm to potentially benefit from the public offering.

Jersey Mike's has not yet determined the number of shares it plans to offer or the price range for the proposed IPO, according to the Wall Street Journal. The confidential filing allows the company to begin the regulatory process while keeping specific financial details private during the initial stages.

Confidential IPO filings have become increasingly common, particularly for companies backed by private equity firms. This approach allows companies to test market conditions and work with regulators before publicly disclosing their offering details.

The timing of Jersey Mike's IPO filing comes as the broader IPO market has shown mixed activity in recent months. The sandwich chain would join other restaurant and food service companies that have pursued public offerings in recent years.