Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 2:55 AM
|This Slide: #34 of 573|
Slide #34. FAT Brands Inc. — Preferred Stock Offering
FAT Brands Inc. (NASDAQ:FAT)
Date of Pricing:
Price Per Share:
Preferred Stock 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 holding company. Through its subsidiaries, Co. is engaged in multi-brand restaurant franchising. Co.'s restaurant brands: Fatburger, which serves a variety of burgers, French fries, onion rings, soft-drinks and milkshakes; Johnny Rockets, which is an international restaurant franchise; Buffalo's Cafe, which provides chicken wings; Ponderosa and Bonanza Steakhouse, which provides a range of steak, chicken and seafood entrees; Hurricane Grill & Wings, which is a tropical beach themed casual dining restaurant; Yalla Mediterranean, which provides Mediterranean cuisine; and Elevation Burger, which is a fast-casual burger, fries, and shakes chain.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 90% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com