Shake Shack raises IPO terms to 5.75M shares at $17 to $19/share

Pedestrians pass a Shake Shack location in New York City.
Scott Mlyn | CNBC
Pedestrians pass a Shake Shack location in New York City.

Shake Shack, famous for its frozen custards and hamburgers, on Wednesday increased the terms of its initial public offering to 5.75 million shares.

The offering is expected to raise about $95 million, valuing Shake Shack at about $674.5 million at the top end of the expected price range, the company said in a regulatory filing on Wednesday. The restaurant chain initially filed to offer 5 million class A shares.

The IPO will be priced in a range of $17 to $19 a share, up from the initial expectation of pricing between $14 to $16 a share.

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The fast food burger joint has applied to have its common stock listed on the New York Stock Exchange under the symbol "SHAK."

Restaurateur Danny Meyer first opened Shake Shack in 2001 out of a hot dog cart in a New York City park.

The chain has 63 locations within the U.S. and internationally. In the fiscal year ending Dec. 25, 2013, Shake Shack's revenue totaled $82.5 million, a $25 million revenue gain since the 2012 fiscal year, according to an SEC filing.

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JPMorgan Chase and Morgan Stanley are among the lead underwriters for the IPO.

CNBC's Hailey Lee and Reuters contributed to this report.