The company behind the burger chain that Kanye West and Nicki Minaj are obsessed with is planning to raise $24 million in its IPO
Facebook/Fatburger
On Wednesday, FAT Brands Inc. - the parent company of Fatburger, as well as Buffalo's Cafe and Buffalo's Express - announced that it plans to raise $24 million in its initial public offering, offering two million shares at $12 per share. The company has applied to list its shares on the Nasdaq, under the ticker FAT.
FAT Brands also announced on Wednesday that it entered into a $10.5 million agreement to acquire Homestyle Dining LLC, the parent company of two steakhouse brands, Ponderosa and Bonanza. With the acquisition, FAT increased its IPO price from the $20 million it announced in August.
Fatburger, which has 200 restaurants in 18 different countries, is currently the best-known of FAT Brands' restaurant concepts.
The chain already has a cult following on the West Coast, with celebrity fans such as Justin Bieber and Nicki Minaj. Kanye West went so far as to become a franchisee with the rights to open 10 locations in Chicago.
- Markets trade on firm note in last part of special trading session
- Markets settle marginally higher in first part of special trading session
- Can you name these new space trash constellations? 10 new signs highlight consequences of space garbage
- MI skipper Hardik Pandya fined for maintaining slow over-rate, to miss first game of IPL 2025 season
- OYO withdraws DRHP, to refile IPO post refinancing: Sources
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market