Prospectus excerpt:  FAT Brands Inc., which we refer to as “we,” “us” or the “Company”, is offering on a firm commitment basis 360,000 shares of our 8.25% Series B Cumulative Preferred Stock (which we refer to as the “Series B Preferred Stock”) and warrants (which we refer to as the “Warrants”) which are initially exercisable to purchase up to an aggregate of 1,800,000 shares of our common stock, par value $0.0001 per share (which we refer to as the “Common Stock”), including shares of Common Stock that are issuable upon exercise of the Warrants. Each share of Series B Preferred Stock that we sell in this offering will be accompanied by five Warrants to each purchase one share of Common Stock at an exercise price of $5.00 per share of Common Stock. Each share of Series B Preferred Stock and accompanying Warrant is being offered at a price of $25.000, for an aggregate offering amount of $10,000,000. The shares of Series B Preferred Stock and Warrants will be issued separately but can only be purchased together in this offering. Each Warrant will be exercisable beginning on the earlier of one year from the date of issuance or the consummation of a consolidation, merger or other business combination transaction between the Company and its parent, Fog Cutter Capital Group Inc. Each Warrant will thereafter remain exercisable at any time until July 16, 2025 and will expire on the five year anniversary of the date of issuance.