---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-23-001237"
form_type: "8-K"
ticker: "GTIM"
cik: "0000825324"
company_name: "Good Times Restaurants Inc."
filed_at: "2023-01-30T23:59:59+00:00"
generated_at: "2026-06-20T06:54:27.152621+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Good Times Restaurants acquires remaining interests in five Bad Daddy's Burger Bar joint ventures for $4.4M

## Summary
- Aggregate cash purchase price of $4,394,205 funded from cash reserves; five locations in NC and SC now wholly-owned.
- Credit facility amended to extend maturity to April 30, 2023 and consent to acquisition; no outstanding borrowings under facility.
- Amendment provides EBITDA credit for ~$850,000 of full-year EBITDA previously allocated to non-controlling members.
- VP of Operations Jim Abbott, a seller, received ~$523,000 of the aggregate proceeds.
- Acquisition consolidates ownership of all traditional Bad Daddy's locations under Good Times Restaurants.

## SEC filing metadata
- accession: 0001214659-23-001237
- form_type: 8-K
- ticker: GTIM
- cik: 0000825324
- company_name: Good Times Restaurants Inc.
- filed_at: 2023-01-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/825324/000121465923001237/0001214659-23-001237-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/825324/000121465923001237/d1272318k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-23-001237
- JSON: https://secwatch.observer/filing/0001214659-23-001237.json
- Plain text: https://secwatch.observer/filing/0001214659-23-001237.txt

## Key facts
- M&A Transactions
  Good Times Restaurants Inc. completed an acquisition involving Thompson Family Associates, RFM Ventures, LLC, Richard Miller, Vicki T. Ponce, Covington DeRamus, ACR Capital Ventures, LLC, Bill Duke, Jim Verney and Jim Abbott for $4,394,205.00 (closed 2023-01-25).
  - Action: acquisition
  - Counterparty: Thompson Family Associates, RFM Ventures, LLC, Richard Miller, Vicki T. Ponce, Covington DeRamus, ACR Capital Ventures, LLC, Bill Duke, Jim Verney and Jim Abbott
  - Consideration: $4,394,205.00
  - Closing: 2023-01-25
  source text: equity interests of the Joint Ventures such that each Joint Venture became a wholly-owned subsidiary of the Company. The aggregate cash purchase price paid to the Sellers was $4,394,205.00. Mr. Abbott serves as BDI’s Vice President of Operations and, as one of the Sellers, received approximately $523,000 of the aggregate proceeds as consideration for the portion of
  evidence_url: https://www.sec.gov/Archives/edgar/data/825324/000121465923001237/0001214659-23-001237-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.