FAT Brands Files Form 10 Registration Statement for Planned Listing of Twin Hospitality Group
04 November 2024 - 12:00PM
FAT (Fresh. Authentic. Tasty.) Brands Inc., (NASDAQ: FAT), a
leading global franchising company and parent company of 18 iconic
brands, is pleased to announce that Twin Hospitality Group Inc.,
the operating unit for its Twin Peaks and Smokey Bones restaurant
brands, has filed a Form 10 Registration Statement with
the Securities and Exchange Commission (SEC). The Form 10
contains a preliminary information statement about the planned
distribution to FAT Brands’ common shareholders of approximately 5%
of the Class A Common Stock of Twin Hospitality Group and its
planned listing on Nasdaq as an independent publicly traded
company. The remaining 95% of the Class A Common Stock of Twin
Hospitality Group will continue to be held by FAT Brands
immediately following the distribution.
The preliminary information statement also
includes information about Twin Hospitality Group as a
standalone company, including financial, capital structure,
business, risk factor, and management and governance information.
The filing of the Form 10 Registration Statement will be updated
with additional information in subsequent amendments as further
information is finalized prior to the distribution, which is
expected to be completed by year-end. The Form 10 Registration
Statement is available on the SEC's website
at http://www.sec.gov.
"The filing of the Form 10 Registration
Statement is an important milestone in unlocking value and growth
opportunities for Twin Hospitality Group and the Twin Peaks brand,
while continuing to generate long-term value for FAT Brands
shareholders," said Ken Kuick, Co-Chief Executive Officer of FAT
Brands. “We look forward to completing the separation later this
year, realizing significant benefits for both companies."
Completion of the potential transaction remains
subject to various conditions, including effectiveness of the Form
10 Registration Statement, final approval of the Nasdaq listing,
and completion of the refinancing transaction described in the
preliminary information statement. This press release does not
constitute an offer to sell or the solicitation of an offer to buy
any securities.
About FAT (Fresh. Authentic. Tasty.)
Brands
FAT Brands (NASDAQ: FAT) is a leading global
franchising company that strategically acquires, markets, and
develops fast casual, quick-service, casual dining, and
polished casual dining concepts around the world. The Company
currently owns 18 restaurant brands: Round Table Pizza, Fatburger,
Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great
American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe
& Express, Hurricane Grill & Wings, Pretzelmaker, Elevation
Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa
and Bonanza Steakhouses, and franchises and owns over 2,300 units
worldwide. For more information on FAT Brands, please
visit www.fatbrands.com.
About Twin Peaks
Founded in 2005 in the Dallas suburb of
Lewisville, Twin Peaks franchises and owns 115 restaurants in the
United States and Mexico. Twin Peaks is the ultimate sports lodge
featuring made-from-scratch food and the coldest beer in the
business, surrounded by scenic views and wall-to-wall TVs. For more
information, visit twinpeaksrestaurant.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, many of which are difficult to predict and
beyond our control, which could cause our actual results, including
consummation and benefits of the potential transaction discussed in
this press release, to differ materially from the results expressed
or implied in such forward-looking statements. We refer you to the
Form 10 Registration Statement filed by Twin Hospitality Group
Inc., and the documents filed by FAT Brands Inc. from time to time
with the SEC, such as its reports on Form 10-K, Form 10-Q and Form
8-K, for a discussion of these 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:
ICRMichelle Michalski
IR-FATBrands@icrinc.com646-277-1224
Media Relations:
FAT Brands Inc. Erin Mandzik
emandzik@fatbrands.com 860-212-6509
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