Restaurant chain parent company Inspire Brands has submitted a confidential application for an initial public offering (IPO) to the US Securities and Exchange Commission (SEC).

The company has not specified how many shares it plans to sell. A pricing range for the offering is also still to be set.

In a brief statement, Inspire Brands said it plans to allocate the net proceeds from the share sale towards reducing its debt under an existing term loan facility. Funds will also be used to cover fees and other expenses related to the transaction.

The listing is expected to proceed once the SEC has completed its review of the registration materials. The timing will also depend on market conditions and other factors.

In a confidential filing, companies submit their S‑1 or F‑1 to the SEC under Form DRS, allowing them to keep the registration statement non-public and avoid an early public preview.

Inspire Brands was established in February 2018 following Arby’s purchase of Buffalo Wild Wings and Rusty Taco.

Its brands now include Arby’s, Baskin-Robbins, Buffalo Wild Wings, Dunkin’, Jimmy John’s and SONIC, operating across 57 international markets and the US.

This March, Inspire Brands selected Darin Dugan as brand president of sandwich chain Jimmy John’s.

Dugan was promoted to the new role after serving as Jimmy John’s chief marketing officer for the past six years.

Last month, Jersey Mike’s Subs confidentially filed for an IPO with the SEC.