Twin Hospitality Group Inc. (TWNPQ): M&A transaction — FAT Brands and Twin Hospitality sell all assets in Chapter 11; total consideration ~$965M in credit bids and cash

as declared the provisional winner of the EB Assets (as defined below), and TWNPKS Bid Co. LLC (“ TWNP Purchaser ”) was declared the provisional winner of the TWNP Assets (as defined below).

brand elements, including all franchising, licensing, and brand management activities conducted in connection therewith (the “ EB Assets ”) for cash in an amount equal to $2,500,000 and EB Purchaser’s assumption of certain liabilities set forth in the EB Purchase Agreement. In accordance with the applicable Sale Orders, on June 15, 2026, (i) the Company

all franchising, licensing, and brand management activities conducted in connection therewith (collectively, the “ FAT Brands Assets ”) for a credit bid of approximately $595 million, comprised of obligations arising under the debtor-in-possession financing facility and certain prepetition notes obligations, and FAT Brands Purchaser’s assumption of certain

brand elements, including all franchising, licensing, and brand management activities conducted in connection therewith (the “ HDOS Assets ”) for cash in an amount equal to $8,000,000 and HDOS Purchaser’s assumption of certain liabilities set forth in the HDOS Purchase Agreement; and (ii) that certain Asset Purchase Agreement (the “ EB Purchase Agreement ”) by

) with TWNP, Twin Hospitality I, LLC, and the other Seller parties identified therein (collectively, the " TWNP Sellers "), and TWNP Purchaser, pursuant to which the TWNP Sellers agreed to sell the business and operations of restaurants, bars, and entertainment (whether owned or franchised) under the "Twin Peaks" name and all related trademarks and proprietary brand elements, including all franchising, licensing, and brand management activities conducted in connection therewith (the " TWNP Assets ") for a credit bid of approximately $359.5 million, comprised of obligations arising under the debtor-in-possession financing facility and certain prepetition obligations of the Debtors under their securitization notes, and TWNP Purchaser's assumption of certain liabilities set forth in the TWNP Purchase Agreement

on the Sale Order Date, the Company entered into the following Purchase Agreements: (i) that certain Asset Purchase Agreement (the " HDOS Purchase Agreement ") by and among the Company, HDOS Acquisition, LLC, HDOS Brand and Marketing Fund, LLC, HDOS Franchise Brands, LLC, HDOS Franchising, LLC, HDOS Showcase, LLC, FAT Brands Development 1 LLC (collectively, the " HDOS Sellers "), and HDOS Purchaser, pursuant to which the HDOS Sellers agreed to sell the business and operations of restaurants (whether owned or franchised) under the "Hot Dog on a Stick" name and all primarily related trademarks and proprietary brand elements, including all franchising, licensing, and brand management activities conducted in connection therewith (the " HDOS Assets ") for cash in an amount equal to $8,000,000 and HDOS Purchaser's assumption of certain liabilities set forth in the HDOS Purchase Agreement

) by and among the Company, FAT Brands Royalty I, LLC, FAT Brands GFG Royalty I, LLC, FAT Brands Fazoli's Native I, LLC, and the other Seller parties identified therein (collectively, the " FAT Brands Sellers "), and FAT Brands Purchaser, pursuant to which the FAT Brands Sellers agreed to sell the business and operations of restaurants, bars, and entertainment (whether owned or franchised) under the "Round Table Pizza", "Fatburger", "Marble Slab Creamery", "Johnny Rockets", "Fazoli's", "Great American Cookies", "Buffalo's Cafe", "Buffalo's Express", "Hurricane Grill & Wings", "Pretzelmaker", "Native Grill & Wings", "Yalla Mediterranean", "Ponderosa Steakhouse" and "Bonanza Steakhouse" brands and all related trademarks and proprietary brand elements, including all franchising, licensing, and brand management activities conducted in connection therewith (collectively, the " FAT Brands Assets ") for a credit bid of approximately $595 million, comprised of obligations arising under the deb

(ii) that certain Asset Purchase Agreement (the " EB Purchase Agreement ") by and among the Company and EB Franchises, LLC (together, " EB Seller "), and EB Purchaser, pursuant to which the EB Seller agreed to sell the business and operations of restaurants (whether owned or franchised) under the "Elevation Burger" brand and all related trademarks and proprietary brand elements, including all franchising, licensing, and brand management activities conducted in connection therewith (the " EB Assets ") for cash in an amount equal to $2,500,000 and EB Purchaser's assumption of certain liabilities set forth in the EB Purchase Agreement