FAT Brands

FAT Brands Readies Close of $24M APO after One Week

Fast-casual dining franchise company FAT Brands expects to close it’s week-old $24 million Reg A offering today, according to company insiders. The quick closing follows reports that the company attracted millions of committed capital on its first day after the Securities and Exchange Commission qualified the offering on October 3. The owner of Fatburger and Buffalo’s Café is selling two million shares at $12, with a minimum investment of $500, from institutional and retail investors. The deal is being sold by Tripoint Global Securities as the exclusive bookrunner.

Fatburger is a 65-year-old company fashioned as a self-serve burger joint that competes with In-n-Out and Shake Shack (SHAK). Buffalo’s Café was founded in Roswell, Ga. in 1985, and is known for its chicken wings with 13 different sauces.

FAT Brands is controlled by Andy Wiederhorn, head of the investment firm Fog Cutter Capital Group. The Southern California burger joint, often touted by Hollywood celebrities, was started by Lovie Yancey and Charles Simpson. Yancey first opened a three-seater burger stand in the late 1940s in front of her house in South Central Los Angeles.

Wiederhorn first invested in Fatburger in 2003, when Fog Cutter financed an $8 million management buyout of a group of celebrity investors including former pro basketball player Earvin "Magic" Johnson Jr. In 2006, Fog Cutter Capital invested an additional $5 million in Fatburger, and increased its voting control to 82%, according to SEC filings. In total Fog Cutter has invested near $30 million in the franchisor and currently controls 80% of FAT Brands’ outstanding shares. CLICK HEADLINE FOR MORE>>

Arcimoto

Second Ultra-light Carmaker Seeks to Tap Reg A Market

An Oregon-based concept car company has been qualified by the Securities and Exchange Commission to raise $29.9 million through a Tier 2 Regulation A offering. Arcimoto is selling 4,600,000 shares at $6.50 through an exclusive underwriting agreement with WR Hambrecht + Co. The company plans to list on Nasdaq’s Capital Market.

fatburger

FAT Burger Hopes Offering a Dividend Sells Its Reg A+ Deal

A fast casual dining restaurant chain plans to be the first issuer to offer a dividend as a means to sell investors on its Regulation A+ public offering. FAT Brands, which owns the FAT Burger and Buffalo’s Cafe casual restaurant franchises, announced on August 3 it is working exclusively with Tripoint Global Securities to qualify a Tier 2 offering with the hopes of raising $20 million.

Chip Soup for the Soul

Chicken Soup Maker Cooks Up Media Offering

Self-help book publishing guru Chicken Soup for the Soul has turned itself into a video entertainment company and plans to expand through a Regulation A offering with plans to list on Nasdaq’s Global Market.