Issuer Name: FAT Brands, Inc.
Ticker: Non-Traded Preferred Stock (Common Stock | NASDAQ: FAT)
Industry: FOOD & BEVERAGE
Securities Offered: 1,200,000 Series B Cumulative Preferred Shares with Warrants to purchase 720,000 shares of Common Stock
Offering Price: $25.00 per share for total proceeds of $30,000,000
Warrant Coverage: 0.60 Warrants per share exercisable at $8.50 per share
Dividend: 8.25% per annum ($2.0625 per share)
Liquidation Preference: $25 per share
Minimum Investment: $500.00 (20 shares)
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns seven restaurant brands, Fatburger, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, that have over 300 locations open and more than 300 under development in 32 countries.
The Company’s passionate and dedicated in-house support teams work across all brands. The Operations, Construction, Purchasing, Architecture & Design, Kitchen Design, Training, Logistics and Marketing departments are highly experienced and dedicated to helping their franchisees achieve their entrepreneurial goals. The franchisees are in business for themselves, not by themselves. Our strategically aligned, complementary restaurant concepts, provide our franchisees the opportunity for continued growth within the markets they develop, across multiple brands and industry segments, while diversifying their portfolio of brands.
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The Company is "Testing the Waters" under Regulation A under the Securities Act of 1933. The Company is not under any obligation to make an offering under Regulation A. No money or other consideration is being solicited in connection with the information provided, and if sent in response, will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until an offering statement on Form 1-A has been filed and until the offering statement is qualified pursuant to Regulation A of the Securities Act of 1933, as amended, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. Any person's indication of interest involves no obligation or commitment of any kind. The information in that offering statement will be more complete than the information the Company is providing now, and could differ materially. You must read the documents filed. No offer to sell the securities or solicitation of an offer to buy the securities is being made in any state where such offer or sale is not permitted under the "blue sky" or securities laws thereof. No offering is being made to individual investors in any state unless and until the offering has been registered in that state or an exemption from registration exists therein. The securities offered using Regulation A are highly speculative and involve significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and if a public market develops following the offering, it may not continue. FAT Brands currently trades on NASDAQ and doing so entails significant ongoing corporate obligations including, but not limited to, disclosure, filing and notification requirements, as well compliance with applicable continued quantitative and qualitative listing standards. The shares underlying the warrants will, if the offering is successful, trade on NASDAQ. The Preferred shares will not trade and no liquid market will be available.
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