FAT Brands Completes $24 million Reg A+ IPO and Lists on NASDAQ
On Monday, FAT Brands (NASDAQ: FAT) rang the NASDAQ opening bell to celebrate its successful Reg A+ IPO. The IPO, which closed on Friday, raised $24 million through the sale of 2,000,000 shares priced at $12.00 per share, was launched earlier this summer and sought to achieve $20 million.
“The demand we’ve seen from the investment community and every day consumers looking to become shareholders of FAT Brands has been outstanding,” said Andy Wiederhorn, CEO and founder of FAT Brands. “With the proceeds raised from our IPO, we will be able to acquire new concepts and continue to grow our company globally under our asset-light model.”
TriPoint Global Equities, LLC, working with its online division BANQ® (www.banq.co), was the lead managing selling agent and sole book runner for the offering. FAT Brands intends to make history by being the first Reg A+ Issuer listed on a National Securities Exchange to pay a dividend.
“I am thrilled that FAT Brands’ offering was so well received by not only Wall Street, but also Main Street. TriPoint has been a pioneer in Regulation A+ and the JOBS Act for years, having developed a methodology that allows companies to reach a diverse audience of investors and trade on a National Securities Exchange,” said Mark Elenowitz, CEO of TriPoint. “FAT Brands leads us into an exciting new territory where iconic brands can offer fans the opportunity to not only be a customer, but to be a shareholder as well.”
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