FAT Brands CEO Andrew Wiederhorn takes leave; board cut to 2; DIP financing of $307.6M secured

Fat Brands, Inc

Andrew Wiederhorn (CEO/Chairman) takes temporary leave; family members Thayer, Taylor, Mason Wiederhorn terminated as officers.
Board reduced from 15 to 2; all directors except Patrick Bartels and Neal Goldman resigned.
DIP Credit Agreement provides up to $307.6M (12% p.a., maturity May 8, 2026) to fund operations and sale process.
Up to $5M in governance payments to Andrew Wiederhorn from DIP facility; employment agreements terminated.
Moelis & Co. withdraws retention; Ad Hoc group withdraws motions for trustee and suspension.

item 1.01 item 2.03 item 5.02 item 9.01

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company_name: Fat Brands, Inc
filed_at: 2026-03-30T23:59:59+00:00
discovered_at: 2026-05-14T18:02:35.949047+00:00
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accession 0001493152-26-013636

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