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Shake Shack Boosts Size of IPO to $95 Million

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Shake Shack Inc. increased the amount it could raise in an initial public offering to $95 million.

The burger chain started a decade ago by New York restaurateur Danny Meyer is now offering 5 million shares at $17 to $19 each, according to a regulatory filing today, compared with an initial range of $14 to $16 apiece. At the top end, Shake Shack would have a market value of about $675 million, based on about 35.5 million shares outstanding, the prospectus shows.