Tuesday, June 29, 2021

FAT Brands Inc. (FAT)
A New Paradigm: Acquiring Global Franchise Group

FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo’s Cafe and Express, and Ponderosa and Bonanza. The company’s overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Acquisition. Yesterday, FAT Brands announced the acquisition of Global Franchise Group for $442.5 million in cash and stock. With the acquisition, FAT Brands will have more than 2,000 franchised and company-owned restaurants around the world, with combined annual system-wide sales of approximately $1.4 billion. On a normalized basis, FAT Brands should generate about $100 million of annual revenue and $60 million of EBITDA.


Who Is Global Franchise Group? Previously owned by Serruya Private Equity and Lion Capital, GFG is a strategic brand management company operating more than 1,400 locations across five quick service restaurant concepts in 16 countries.  The concepts are Round Table Pizza, Great American Cookies, Hot Dog on a Stick, Marble Slab Creamery, and Pretzelmaker …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Tuesday, June 29, 2021

FAT Brands Inc. (FAT)
A New Paradigm: Acquiring Global Franchise Group

FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo’s Cafe and Express, and Ponderosa and Bonanza. The company’s overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Acquisition. Yesterday, FAT Brands announced the acquisition of Global Franchise Group for $442.5 million in cash and stock. With the acquisition, FAT Brands will have more than 2,000 franchised and company-owned restaurants around the world, with combined annual system-wide sales of approximately $1.4 billion. On a normalized basis, FAT Brands should generate about $100 million of annual revenue and $60 million of EBITDA.


Who Is Global Franchise Group? Previously owned by Serruya Private Equity and Lion Capital, GFG is a strategic brand management company operating more than 1,400 locations across five quick service restaurant concepts in 16 countries.  The concepts are Round Table Pizza, Great American Cookies, Hot Dog on a Stick, Marble Slab Creamery, and Pretzelmaker …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

FAT Brands Inc. Announces Closing of Public Offering of Series B Cumulative Preferred Stock and Full Exercise of Underwriter’s Overallotment Option

Beverly Hills, CA, June 22, 2021 (GLOBE NEWSWIRE) — 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 closing of its previously announced underwritten public offering of 460,000 shares of 8.25% Series B Cumulative Preferred Stock at a price to the public of $20.00 per share, which includes 60,000 shares issued and sold upon full exercise of the underwriter’s option to purchase additional shares.

The aggregate gross proceeds to the Company were $9,200,000, prior to deducting underwriting discounts and other offering expenses.

FAT Brands Inc. intends to use the net proceeds of the offering for general corporate purposes and possible future acquisitions and growth opportunities.

ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering. Digital Offering, LLC acted as a financial advisor for the offering.

This offering is being made pursuant to a registration statement on Form S-1 (No. 333-256344), as amended, previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on June 17, 2021. A final prospectus related to the proposed offering has been filed and made available on the SEC’s website. Electronic copies of the final prospectus may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, Telephone: (877) 436-3673, Email: prospectus@think-equity.com.

 The press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands Inc. (NASDAQ: FAT, FATBP, FATBW) (the Company) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns nine restaurant brands: Fatburger, Johnny Rockets, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises approximately 700 units worldwide. For more information, please visit www.fatbrands.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies including, but not limited to, uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks, uncertainties and contingencies. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

Investor Relations:
ICR
Lynne Collier
IR-FATBrands@icrinc.com
646-430-2216

Media Relations:
JConnelly
Erin Mandzik
emandzik@jconnelly.com
862-246-9911

FAT Brands Inc. Announces Closing of Public Offering of Series B Cumulative Preferred Stock and Full Exercise of Underwriter’s Overallotment Option

Beverly Hills, CA, June 22, 2021 (GLOBE NEWSWIRE) — 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 closing of its previously announced underwritten public offering of 460,000 shares of 8.25% Series B Cumulative Preferred Stock at a price to the public of $20.00 per share, which includes 60,000 shares issued and sold upon full exercise of the underwriter’s option to purchase additional shares.

The aggregate gross proceeds to the Company were $9,200,000, prior to deducting underwriting discounts and other offering expenses.

FAT Brands Inc. intends to use the net proceeds of the offering for general corporate purposes and possible future acquisitions and growth opportunities.

ThinkEquity, a division of Fordham Financial Management, Inc., acted as sole book-running manager for the offering. Digital Offering, LLC acted as a financial advisor for the offering.

This offering is being made pursuant to a registration statement on Form S-1 (No. 333-256344), as amended, previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on June 17, 2021. A final prospectus related to the proposed offering has been filed and made available on the SEC’s website. Electronic copies of the final prospectus may be obtained from ThinkEquity, a division of Fordham Financial Management, Inc., 17 State Street, 22nd Floor, New York, New York 10004, Telephone: (877) 436-3673, Email: prospectus@think-equity.com.

 The press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands Inc. (NASDAQ: FAT, FATBP, FATBW) (the Company) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns nine restaurant brands: Fatburger, Johnny Rockets, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises approximately 700 units worldwide. For more information, please visit www.fatbrands.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies including, but not limited to, uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks, uncertainties and contingencies. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

Investor Relations:
ICR
Lynne Collier
IR-FATBrands@icrinc.com
646-430-2216

Media Relations:
JConnelly
Erin Mandzik
emandzik@jconnelly.com
862-246-9911

Thursday, November 12, 2020

FAT Brands Inc. (FAT)

Good Results Tempered by COVID; Johnny Rockets to Impact Fourth Quarter

FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo’s Cafe and Express, and Ponderosa and Bonanza. The company’s overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

3Q20 Results. Total revenue was $4.1 million, down from $6.5 million last year. Lower royalties and franchise fees were the key drivers. Net loss was $568,000, or $0.05 per share, compared to net income of $1.2 million, or $0.10 per share last year. We had forecast revenue of $3.6 million and a net loss of $1.6 million, or $0.11 per share.


Sales Improving But Not Yet Back to Pre-Covid Levels.  Systemwide sales increased 53% sequentially, improving each month of the quarter, but the $73.1 million 3Q total was below the $84.7 million in the first quarter. Roughly 21% of the existing store count remains closed, mostly concentrated in the steak houses and Johnny Rockets. If COVID restrictions continue to ease, we expect the majority of …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.