Shake Shack Orders Up Initial Public Offering, Hopes to Raise $100M

Shake Shack is bringing its burgers and milkshakes to Wall Street. The burger chain filed for an initial public offering Monday, hoping to raise as much as $100 million. It didn't say how many shares it plans to offer, or at what price, so that number may change. It plans to use the cash raised to open more restaurants, including its first one in Austin, and to renovate existing stores. In 2013, the company had revenue of $84.5 million, up 45% from the year before. It posted a profit of $5.4 million in 2013, up 31% from 2012. Shake Shack plans to list its stock on the New York Stock Exchange under the ticker symbol 'SHAK.'