secwatch.observer — SEC 8-K summary
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Issuer:     Fat Brands, Inc (FATAQ)
CIK:        0001705012
Form:       8-K
Filed at:   2021-11-24T23:59:59+00:00
Accession:  0001493152-21-029842
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FAT Brands agrees to acquire Native Grill & Wings for $20M; new CEO employment and COO promotion
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- Acquisition of Native Grill & Wings for $20M cash, expected close mid-December 2021.
- Deal to be funded by new notes from securitization facilities; adds ~$3M normalized EBITDA in 2022.
- CEO Andrew Wiederhorn new employment agreement: $750k base salary, bonus up to 300% of base.
- Thayer Wiederhorn promoted to COO effective Nov 18, 2021; previously Chief Marketing Officer.
- Native Grill & Wings has 23 franchised locations; FAT Brands now has over 2,300 units globally.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1705012/000149315221029842/0001493152-21-029842-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1705012/000149315221029842/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-029842

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer