FAT (Fresh. Authentic. Tasty.) Brands Inc., a global multi-brand restaurant franchising company, announced on Thursday it is making plans to file a Regulation A+ initial public offering that allows anyone the opportunity to invest in its family of brands. The company’s portfolio of brands includes Fatburger, Buffalo’s Cafe, Buffalo’s Express and other acquisitions under contract.
The company stated it has positioned itself for significant growth while remaining devoted to its franchisees’ profitability and their ability to serve only the highest quality menu offerings to customers around the world. Its brands currently franchises more than 200 restaurants across six states and 18 countries worldwide. FAT Brands will be looking to raise up to $20 million in its IPO under Regulation A+ rules, which allows anyone, accredited and unaccredited investors, to invest. The company noted that it is planning to use the proceeds from the offering for corporate purposes such as brand acquisitions, working capital, domestic and international expansion and retirement of existing debt.
FAT Brands Founder and CEO, Andy Wiederhorn, stated:
“Our dedication to quality and great taste is reflected in our loyal worldwide following as our brands have grown over the years. We have developed the management team and business infrastructure to continue to grow our brands, acquire new brands and grow them globally under our asset-light model. As we make the transition from a private company to a public one, we are delighted to position our restaurants so that our fans can now be part owners too.”
Wiederhorn was the founder of Wilshire Credit Corporation and served as its CEO. He is currently CEO and majority shareholder in Fog Cutter Capital and is also CEO of Fatburger. FAT Brands added TriPoint Global Equities, LLC, working with its online division BANQ, will act as the lead managing selling agent and sole bookrunner for the offering. The company noted in succession, and subject to New York Stock Exchange (NYSE) or NASDAQ requirements, it plans to list on a National Securities Exchange as “FAT.”
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