**FAT Brands Announces Special Stock Dividend for Twin Hospitality Spin-Off** **

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On January 16, 2025, FAT Brands Inc. (NASDAQ: FAT) declared a special stock dividend for its common stockholders. The company’s Board of Directors approved the distribution of shares of Class A Common Stock of Twin Hospitality Group Inc. (Twin Hospitality), the operating unit for Twin Peaks and Smokey Bones restaurant brands.

The special dividend of 0.1520207 share of Twin Common Stock will be distributed proportionally to all holders of FAT Brands’ Class A Common Stock (NASDAQ: FAT) and Class B Common Stock (NASDAQ: FATBB) as of the closing of trading on January 27, 2025, marking the record date. The distribution is anticipated to occur after trading on January 29, 2025, subject to certain conditions, with Twin Common Stock trading on Nasdaq Global Market under the symbol “TWNP” on the subsequent trading day.

To be eligible for the distribution, holders of FAT Brands’ outstanding Warrants (NASDAQ: FATBW) must exercise their warrants for Class A Common Stock ahead of the record date. Failure to exercise warrants before the record date will result in an adjustment to the exercise price downward under the warrant agency agreement.

No vote or action from FAT Brands’ common stockholders is required to receive the special stock dividend, which will be issued in book-entry form. Any fractional shares will be consolidated and sold in the market, with the proceeds distributed pro-rata as cash payments to entitled stockholders.

FAT Brands plans to provide an information statement to its common stockholders concerning the distribution and spin-off. The statement will offer further details about the distribution and will be accessible under the Investor Relations section on FAT Brands’ website.

The financial advisors in this transaction are Clear Street, BTIG, Roth Capital Partners, and ICR Capital, while legal counsel is provided by Greenberg Traurig, LLP.

FAT Brands (NASDAQ: FAT) is a globally renowned franchising company that acquires, markets, and cultivates various restaurant concepts worldwide. The company possesses 18 restaurant brands and franchises and owns over 2,300 units globally. For additional information, visit the FAT Brands website.

Founded in 2005, Twin Peaks operates 115 restaurants in the United States and Mexico, offering a unique sports lodge experience with made-from-scratch food and cold beverages, surrounded by scenic views and numerous TVs.

This press release may contain forward-looking statements subject to business, economic, and competitive risks. These statements are challenging to predict and beyond control, potentially affecting actual results materially. Updates will be issued as necessary.

For investor relations, contact Michelle Michalski at [email protected] or 646-277-1224. Media inquiries can be directed to Erin Mandzik at [email protected] or 860-212-6509.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read FAT Brands’s 8K filing here.

FAT Brands Company Profile

FAT Brands Inc, a multi-brand restaurant franchising company, acquires, develops, markets, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts worldwide. It owns restaurant brands, including Round Table Pizza, Marble Slab Creamery, Great American Cookies, Hot Dog on a Stick, Pretzelmaker, Fazoli's, Fatburger, Johnny Rockets, Elevation Burger, Yalla Mediterranean, Buffalo's Cafe and Buffalo's Express, Hurricane Grill & Wings, Ponderosa Steakhouse/Bonanza Steakhouse, Native Grill & Wings, Smokey Bones, and Twin Peaks.