Twin Hospitality Group enters $50M equity purchase agreement with White Lion Capital

Twin Hospitality Group Inc.

• Company may require White Lion to purchase up to $50 million of Class A common stock under three notice types: Fixed, Rapid, VWAP.
• Fixed Purchase Price at 85% of lowest daily VWAP over five consecutive days; per-notice cap is 30% of median daily volume or $250,000.
• VWAP Purchase Price at 97.5% of VWAP minus $0.05; cap 20% of average daily volume or $200,000. Rapid Purchase Price is lowest traded price or 99% of lowest price after two hours.
• Company will issue commitment shares in three tranches totaling $375,000 (based on closing prices) as consideration for White Lion’s commitments.
• Facility is unregistered, relying on Section 4(a)(2) and Rule 506(b); Company must file a resale registration statement within 30 days.