Fat Brands updates warrant holders in connection with Twin Hospitality spinoff
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 23 2025
0mins
Should l Buy FAT?
Fat Brands Spin-off Announcement: Fat Brands is executing a partial spin-off of its subsidiary, Twin Hospitality Group, by distributing shares of Twin Hospitality as a special stock dividend to its common stockholders.
Warrant Exercise Requirement: Holders of Fat Brands' Warrants must exercise them for Class A Common Stock before the record date to receive the Twin Common Stock distribution; otherwise, their exercise price will be adjusted downward based on the fair market value of the distributed shares.
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Analyst Views on FAT
About FAT
FAT Brands Inc. is a global franchising company, which acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. It owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. Round Table Pizza is the franchisor of quick service restaurants located in California and the western United States. Hot Dog on a Stick is the franchisor of quick service restaurants located in regional malls in California and the western United States. Johnny Rockets is an international restaurant franchise and offers menu items including Certified Angus Beef cooked-to-order hamburgers, chicken sandwiches, and malts.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Additional Discount Campaign: Between February 13 and 17, customers can use code RTP258 to receive a 14% discount on any regular or heart-shaped Large Pizza, further stimulating sales and increasing customer loyalty.
- Brand Philosophy Reinforcement: Tisha Bartlett, Vice President of Marketing, emphasizes that Valentine's Day and National Pizza Day allow the brand to better embody its motto of sharing pizza with loved ones, strengthening emotional connections with customers.
- Commitment to Quality: Since its founding in 1959, Round Table Pizza has been recognized for its dedication to using premium, fresh ingredients, with handcrafted pizzas establishing its reputation as
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- Optimistic Outlook: The company forecasts first-quarter adjusted EPS between $1.89 and $2.25, significantly above the analyst estimate of $1.24, showcasing robust profitability and market demand.
- Revenue Projections Raised: Teradyne anticipates first-quarter revenue in the range of $1.15 billion to $1.25 billion, well above the analyst expectation of $927.72 million, reflecting the company's competitive edge and growth potential in the market.
- Positive Market Reaction: The substantial increase in stock price not only reflects investor approval of the company's performance but may also attract more institutional investors, potentially driving further stock price appreciation.
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- Operations Continue: Despite the bankruptcy filing, operations across FAT Brands' portfolio are ongoing as the company seeks to deleverage its balance sheet and negotiate a restructuring plan with bondholders and other creditors to restore financial stability.
- Potential Brand Sales: Industry insiders suggest that the bankruptcy filing increases the likelihood of FAT Brands unloading one or more of its chains, which could significantly impact its future market positioning and brand portfolio.
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