Fat Brands Inc. Reports Material Agreements and Obligations
Ticker: FABTQ · Form: 8-K · Filed: Nov 25, 2024 · CIK: 1705012
Sentiment: neutral
Topics: material-agreement, financial-obligation, termination
Related Tickers: FAT
TL;DR
FAT just signed and terminated some big deals, watch for financial impacts.
AI Summary
Fat Brands Inc. entered into a material definitive agreement on November 21, 2024, related to a financial obligation. The company also reported the termination of a material definitive agreement on the same date. These events trigger reporting requirements under the Securities Exchange Act of 1934.
Why It Matters
This filing indicates significant changes in Fat Brands Inc.'s contractual and financial arrangements, which could impact its financial health and operational strategy.
Risk Assessment
Risk Level: medium — The entry into and termination of material definitive agreements suggest potential financial restructuring or strategic shifts that carry inherent business risks.
Key Players & Entities
- Fat Brands Inc. (company) — Registrant
- November 21, 2024 (date) — Date of earliest event reported
FAQ
What specific financial obligation was created by the material definitive agreement?
The filing does not specify the exact nature or amount of the financial obligation created by the material definitive agreement, only that one was entered into.
What was the reason for the termination of the material definitive agreement?
The filing does not provide details regarding the reason for the termination of the material definitive agreement.
Are there any off-balance sheet arrangements involved?
The filing indicates the creation of an obligation under an off-balance sheet arrangement, but does not provide specific details.
What is the SIC code for Fat Brands Inc.?
The Standard Industrial Classification (SIC) code for Fat Brands Inc. is 5812, which corresponds to RETAIL-EATING PLACES.
When is Fat Brands Inc.'s fiscal year end?
Fat Brands Inc.'s fiscal year ends on December 26.
Filing Stats: 4,035 words · 16 min read · ~13 pages · Grade level 14.4 · Accepted 2024-11-25 08:15:27
Key Financial Figures
- $416,711,000 — 4-1 fixed rate notes (the " Notes ") is $416,711,000 across four tranches, with a weighted a
- $12,124,000 — e 11/21/2024 A-2-I Super Senior $12,124,000 9.00% 10/25/2027 10/26/2054 11/
- $269,257,000 — 6/2054 11/21/2024 A-2-II Senior $269,257,000 9.00% 10/25/2027 10/26/2054 11/
- $57,619,000 — 1/21/2024 B-2 Senior Subordinated $57,619,000 10.00% 10/25/2027 10/26/2054 11
- $77,711,000 — 054 11/21/2024 M-2 Subordinated $77,711,000 11.00% 10/25/2027 10/26/2054 Th
- $326,876,000 — eferred to as Class A2IIB2 Notes (up to $326,876,000) and Class A2IIB2M2 Notes (up to $404,5
- $404,587,000 — 76,000) and Class A2IIB2M2 Notes (up to $404,587,000), which will reflect in the aggregate t
- $75,000,000 — ment of the Notes until an aggregate of $75,000,000 has been repaid in that manner. If at l
- $25,000,000 — been repaid in that manner. If at least $25,000,000 of the proceeds of Qualified Equity Off
- $291,667 — Issuer to the Manager in the amount of $291,667.66, subject to three percent (3%) annua
- $0.01 — ate of issuance at an exercise price of $0.01 per share (subject to certain customary
- $20,000,000 — , to have prepaid or purchased at least $20,000,000 of Class A-1A Notes and Class A-2A Note
- $15,000,000 — rage price and with a value of at least $15,000,000. Upon an Event of Default under the FBR
Filing Documents
- form8-k.htm (8-K) — 104KB
- ex4-1.htm (EX-4.1) — 1938KB
- ex4-2.htm (EX-4.2) — 421KB
- ex4-3.htm (EX-4.3) — 114KB
- ex10-1.htm (EX-10.1) — 298KB
- ex10-2.htm (EX-10.2) — 551KB
- ex10-3.htm (EX-10.3) — 111KB
- ex10-4.htm (EX-10.4) — 145KB
- 0001493152-24-047552.txt ( ) — 4431KB
- fat-20241121.xsd (EX-101.SCH) — 4KB
- fat-20241121_def.xml (EX-101.DEF) — 30KB
- fat-20241121_lab.xml (EX-101.LAB) — 37KB
- fat-20241121_pre.xml (EX-101.PRE) — 27KB
- form8-k_htm.xml (XML) — 7KB
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 thereunto duly authorized. Date: November 25, 2024 FAT Brands Inc. By: /s/ Kenneth J. Kuick Kenneth J. Kuick Chief Financial Officer