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Tuesday, January 21, 2025

Equity Corporate Actions Alert #2025 - 20
Spin-Off/Distribution Information for FAT Brands Inc.(FAT & FATBB)

Category:

  • Industry Announcement

Markets Impacted:

Contact Information:

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On January 16, 2025, FAT Brands Inc.(FAT) announced a spin-off of the operating unit for its Twin Peaks and Smokey Bones restaurant brands, Twin Hospitality Group Inc. The EX distribution when-issued markets of FAT Brands Inc. (FATAV & FATBV) and the when-issued market for Twin Hospitality Group Inc. Class A Common Stock (TWNPV) will begin trading on Nasdaq on Tuesday, January 28th, 2025. The details for the spin-off and when-issued markets are as follows:

Parent Company/Issue: FAT Brands Inc. Class A Common Stock
CUSIP: 30258N105
Symbol: FAT
Record Date: January 27, 2025
Payment Date: January 29, 2025
EX Date: January 30, 2025
Due Bill Redemption Date: January 30, 2025
Ratio of Spin-Off/ Distribution:
 0.1520207 of a share of Twin Hospitality Group Inc. Class A Common Stock (TWNP) for each share of FAT Brands Inc.(FAT) held.

Parent Company/Issue: FAT Brands Inc. Class B Common Stock
CUSIP: 30258N600
Symbol: FATBB
Record Date: January 27, 2025
Payment Date: January 29, 2025
EX Date: January 30, 2025
Due Bill Redemption Date: January 30, 2025
Ratio of Spin-Off/ Distribution:
 0.1520207 of a share of Twin Hospitality Group Inc. Class A Common Stock (TWNP) for each share of FAT Brands Inc. Class B Common Stock (FATBB) held.

An EX distribution when issued markets will be established for FAT Brands Inc.(FAT). Trades in the EX distribution when issued market will not carry due-bills for the spin off/distribution. The details for the EX distribution when-issued markets are as follows:

Symbol: FATAV
CUSIP: 30258N147
First Trade Date: January 28, 2025
Anticipated Suspension Date: January 30, 2025
Settlement Date: January 31, 2025

Symbol: FATBV
CUSIP: 30258N154
First Trade Date: January 28, 2025
Anticipated Suspension Date: January 30, 2025
Settlement Date: January 31, 2025

A when-issued market will be established for the shares of Twin Hospitality Group Inc. Class A Common Stock (TWNPV). The symbol will change to TWNP on that date. The details for the when issued market are as follows:

Symbol: TWNPV
CUSIP: 901643106
First Trade Date: January 28, 2025
Regular Way Trading Begins: January 30, 2025
Settlement Date: January 31, 2025

For information regarding this announcement, contact Nasdaq Corporate Data Operations at +1 877 308 0523.

If you would like to register as a market maker in FATAV, FATBV or TWNPV contact Nasdaq Trading Services at +1 212 231 5100..

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