Secondary Stock Offerings
By The Online Investor Staff, updated Sun., Jun. 20, 1:59 AM
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Slide #3. FAT Brands Inc. — Secondary Offering
Company:
FAT Brands Inc. (NASDAQ:FAT)
Date announced:
6/17/2021
Shares Offered:
400,000
Date of Pricing:
6/17/2021
Price Per Share:
$20.00
Secondary Offering Details:
FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT, FATBP, FATBW), a leading global franchising company and parent company of iconic brands including Fatburger, Johnny Rockets, and seven other restaurant concepts, today announced the pricing of an underwritten public offering of 400,000 shares of 8.25% Series B Cumulative Preferred Stock at a price to the public of $20.00 per share. The gross proceeds to the Company are expected to be $8,000,000 prior to deducting underwriting discounts and estimated offering expenses. The Company has also granted to the underwriters a 45-day option to acquire an additional 60,000 shares of 8.25% Series B Cumulative Preferred Stock to cover over-allotments, if any.
FAT Brands is a multi-brand restaurant franchising company that develops, markets, and acquires fast casual restaurant concepts. Co.'s restaurant brands include: Fatburger, which serves a variety of customizable Fatburgers, Turkeyburgers, Chicken Sandwiches, Impossible™ Burgers, and Veggieburgers, among other; Buffalo's Cafe, which provides chicken wings and homemade wing sauces, burgers, and wraps, among other; Ponderosa and Bonanza Steakhouse, which provides guests a buffet and an array of steak, chicken and seafood entrees; Hurricane Grill & Wings, which provides chicken wings, sauces, burgers, and bowls, among other; Yalla Mediterranean; and Elevation Burger.
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 91st percentile
(ranked higher than approx. 91% of all stocks covered)
Analysts' Target Price: FAT Stock Forecast Based on Zacks ABR data; powered by Xignite |
