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IPO Watch: Fatburger Serving Up Shares

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FAT Brands Inc., the parent company of popular Fatburger, announced its plans to raise $24 million in its initial public offering.

The company is offering two million shares at $12 per share. The company plans to list its shares on the Nasdaq, under the ticker FAT.

FAT Brands also revealed that it entered into a $10.5 million agreement to acquire Homestyle Dining LLC, the parent company of two steakhouse brands, Ponderosa and Bonanza.

Fatburger currently operates around 200 restaurants in 18 different countries.

by RTT Staff Writer

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