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FAT Brands announces offering of non-convertible preferred stock and warrants [Seeking Alpha]

FAT BRANDS INC COMMON (FAT)  More Company Research Source: Seeking Alpha
US:NASDAQ Investor Relations: ir.fatbrands.com
PDF FAT Brands announces offering of non-convertible preferred stock and warrantsFAT Brands (FAT-5%) announced the commencement of an offering of up to $50M of Units comprised of non-convertible preferred stock and common stock purchase warrants.The Company will offer up to 5,000 Units at $10,000 per Unit, with each Unit consisting of 100 Shares of Series A Fixed Rate/Floating Rate Cumulative Preferred Stock and 3 year Warrants to Purchase 185 shares of Common Stock (NASDAQ:FAT) at $18.00 per share.The Offering will close on a rolling basis, commencing on or about January 31.Investors in the Preferred Shares will receive quarterly cash dividends at a rate that increases from 8.0% to 13.0% per year, plus an additional dividend of 5.6% per year that will cumulate for the first three years and be payable on December 31, 2020.The Company may redeem Preferred Shares at 110% of liquidation preference plus accrued dividends in the first year after issuance, 105% in the second year after issuance [Read more]

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