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FAT Brands launches stock offering

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September 17, 2019

Restaurant franchising company, FAT Brands Inc., is offering up to $30,000,000 of Series B Cumulative Preferred Stock and common stock purchase warrants. The company intends to use the investment to refinance debt and for future acquisitions, according to a press release.

"We are pleased that FAT Brands is one of the first companies to execute a follow-on offering using the Regulation A process," said Andy Wiederhorn, CEO and founder of FAT Brands, in the release. "This preferred stock offering brings new, long-term, lower-cost capital to the company while providing an 8.25% dividend to investors. Eliminating existing debt and using additional proceeds for our next acquisition will further the execution of our business plan and growth strategy."