WASHINGTON (dpa-AFX) - FAT Brands Inc., the parent company of popular Fatburger, announced its plans to raise $24 million in its initial public offering.
The company is offering two million shares at $12 per share. The company plans to list its shares on the Nasdaq, under the ticker FAT.
FAT Brands also revealed that it entered into a $10.5 million agreement to acquire Homestyle Dining LLC, the parent company of two steakhouse brands, Ponderosa and Bonanza.
Fatburger currently operates around 200 restaurants in 18 different countries.
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