Fat Brands IPO

Fatburger owner kicks off ‘mini-IPO,’ uses funds to buy Ponderosa

FAT Brands to buy Homestyle Dining LLC for $10.5 million

FAT Brands Inc., the owner of Fatburger and Buffalo’s Café, has agreed to buy the owner of Ponderosa and Bonanza steakhouse brands for $10.5 million, the company said on Wednesday.

The announcement came on the day the company kicked off what’s known as a “mini-IPO,” pricing its newly minted stock at $12 per share in a bid to raise $24 million.

The proceeds will be used to fund the acquisition of Homestyle Dining LLC.

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