FAT Brands, which franchises 300 restaurants mainly under the Fatburger and Ponderosa brands, announced terms for its Regulation A+ IPO on Wednesday.
The Beverly Hills, CA-based company plans to raise $24 million by offering up to 2 million shares at a price of $12. At that price, FAT Brands would command a market value of $120 million.
FAT Brands was founded in 1947 and booked $14 million in revenue for the 12 months ended March 26, 2017. It plans to list on the Nasdaq under the symbol FAT. TriPoint Global Equities is the lead managing selling agent for the deal. No timing on pricing was disclosed.
