BT Brands, Inc. Files 8-K for Material Definitive Agreement
Ticker: BTBDW · Form: 8-K · Filed: Dec 16, 2024 · CIK: 1718224
Sentiment: neutral
Topics: material-definitive-agreement, filing
TL;DR
BT Brands just signed a big deal, filing an 8-K. Could be good.
AI Summary
On December 13, 2024, BT Brands, Inc. entered into a Material Definitive Agreement. The filing also includes financial statements and exhibits related to this agreement. The company is incorporated in Wyoming and its principal address is in West Fargo, ND.
Why It Matters
This filing indicates a significant new agreement for BT Brands, Inc., which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.
Key Players & Entities
- BT Brands, Inc. (company) — Registrant
- December 13, 2024 (date) — Date of earliest event reported
- Wyoming (jurisdiction) — State of incorporation
- West Fargo, ND (location) — Principal address
FAQ
What is the nature of the Material Definitive Agreement filed by BT Brands, Inc.?
The filing indicates the entry into a Material Definitive Agreement, but the specific details of the agreement are not provided in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated December 13, 2024.
In which state is BT Brands, Inc. incorporated?
BT Brands, Inc. is incorporated in Wyoming.
What is the principal business address of BT Brands, Inc.?
The principal business address is 405 West Main Avenue, Suite 2D, West Fargo, ND 58078.
What was the former name of BT Brands, Inc.?
The former names of BT Brands, Inc. were Burger Time, Inc. and Burger Time,Inc.
Filing Stats: 1,647 words · 7 min read · ~5 pages · Grade level 14.2 · Accepted 2024-12-16 07:48:36
Key Financial Figures
- $0.002 — f the Company's common stock, par value $0.002 per share (the "Common Stock"), subject
- $3,005,000 — ximum aggregate sales proceeds of up to $3,005,000 pursuant to the applicable prospectus s
- $75 million — res held by non-affiliates is less than $75 million. The $3,005,000 of shares of Common Sto
- $25,000,000 — offering prospectus is included in the $25,000,000 of securities that may be offered, issu
Filing Documents
- btbd_8k.htm (8-K) — 37KB
- btbd_8kimg1.jpg (GRAPHIC) — 4KB
- 0001477932-24-008079.txt ( ) — 187KB
- btbd-20241213.xsd (EX-101.SCH) — 6KB
- btbd-20241213_lab.xml (EX-101.LAB) — 16KB
- btbd-20241213_cal.xml (EX-101.CAL) — 1KB
- btbd-20241213_pre.xml (EX-101.PRE) — 12KB
- btbd-20241213_def.xml (EX-101.DEF) — 4KB
- btbd_8k_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On December 13, 2024, BT Brands, Inc. (the "Company") entered into an Equity Distribution Agreement (the "Distribution Agreement ") with Maxim Group LLC ("Maxim") to sell shares of the Company's common stock, par value $0.002 per share (the "Common Stock"), subject to the maximum aggregate sales proceeds of up to $3,005,000 pursuant to the applicable prospectus supplement, from time to time, through an "at the market offering" program under which Maxim will act as sales agent. Under the Distribution Agreement, the Company will set the parameters for the sale of shares, including the number of shares to be issued, the time period during which sales are requested to be made, any limitation on the number of shares that may be sold in any one day and any minimum price below which sales may not be made. Pursuant to General Instruction I.B.6 of Form S-3, the Company may not sell the shelf securities in a public primary offering with a value exceeding more than one-third of the aggregate market value of its voting and non-voting ordinary shares held by non-affiliates in any 12-month period as long as the aggregate market value of the Company's outstanding ordinary shares held by non-affiliates is less than $75 million. The $3,005,000 of shares of Common Stock that may be offered, issued and sold under the offering prospectus is included in the $25,000,000 of securities that may be offered, issued and sold by the Company under the base prospectus.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 1.1 Equity Distribution Agreement, dated as of December 13, 2024, by and between the Company and Maxim Group LLC (incorporated by reference to Exhibit 1.2 to the Company's Registration Statement on Form S-3 filed on December 13, 2024 104* Cover Page Interactive Data File (embedded within the Inline XBRL document). * Filed herewith 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BT BRANDS, INC. Dated: December 16, 2024 By: /s/ Kenneth Brimmer Kenneth Brimmer Chief Financial Officer 4