Movers and SHAKERS
FAT Brands Inc. (FAT)
Raises Additional Capital
FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo's Cafe and Express, and Ponderosa and Bonanza. The company's overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
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Capital Raise. FAT Brands raised $8.0 million, net, in additional capital through the sale of 360,000 shares of 8.25% Series B Cumulative Preferred stock at $25 per share. Attached to the Series B shares were a total of 1,899,000 warrants each to purchase one common share at an exercise price of $5.00 per share. Both the preferred shares and the warrants are expected to trade under the symbols FATBP and FATBW.
Use of Proceeds. Approximately $2.6 million of the proceeds will be used to redeem a portion of the outstanding Series A preferred stock, with another $300,000 used to pay dividends on the Series A-1 preferred stock. The remainder will be used for ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.