On January 16, 2025, FAT Brands Inc. (FAT) announced the spin-off of its Twin Peaks and Smokey Bones restaurant brands into a new operating unit called Twin Hospitality Group Inc. The EX distribution when-issued markets for FAT Brands Inc. (FATAV & FATBV) along with the when-issued market for Twin Hospitality Group Inc. Class A Common Stock (TWNPV) will commence trading on Nasdaq on Tuesday, January 28, 2025. Below are the details regarding the spin-off and the associated when-issued markets:
| Parent Company/Issue: | FAT Brands Inc. Class A Common Stock |
|---|---|
| CUSIP: | 30258N105 |
| Symbol: | FAT |
| Record Date: | January 27, 2025 |
| Payment Date: | January 29, 2025 |
| EX Date: | January 30, 2025 |
| Due Bill Redemption Date: | January 30, 2025 |
| Ratio of Spin-Off/Distribution: | 0.1520207 of a share of Twin Hospitality Group Inc. Class A Common Stock (TWNP) for each share of FAT Brands Inc. (FAT) owned. |
| Parent Company/Issue: | FAT Brands Inc. Class B Common Stock |
|---|---|
| CUSIP: | 30258N600 |
| Symbol: | FATBB |
| Record Date: | January 27, 2025 |
| Payment Date: | January 29, 2025 |
| EX Date: | January 30, 2025 |
| Due Bill Redemption Date: | January 30, 2025 |
| Ratio of Spin-Off/Distribution: | 0.1520207 of a share of Twin Hospitality Group Inc. Class A Common Stock (TWNP) for each share of FAT Brands Inc. Class B Common Stock (FATBB) owned. |
An EX distribution when-issued market will be established for FAT Brands Inc. (FAT). Trades in this market will not carry due-bills for the spin-off/distribution. The details for the EX distribution when-issued markets are outlined below:
| Symbol: | FATAV |
|---|---|
| CUSIP: | 30258N147 |
| First Trade Date: | January 28, 2025 |
| Anticipated Suspension Date: | January 30, 2025 |
| Settlement Date: | January 31, 2025 |
| Symbol: | FATBV |
|---|---|
| CUSIP: | 30258N154 |
| First Trade Date: | January 28, 2025 |
| Anticipated Suspension Date: | January 30, 2025 |
| Settlement Date: | January 31, 2025 |
A when-issued market will be created for the shares of Twin Hospitality Group Inc. Class A Common Stock (TWNPV), with the symbol changing to TWNP on the effective date. The details for this when-issued market are as follows:
For further information regarding this announcement, please contact Nasdaq Corporate Data Operations at +1 877 308 0523. If interested in registering as a market maker for FATAV, FATBV, or TWNPV, please reach out to Nasdaq Trading Services at +1 212 231 5100.
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Symbol:
TWNPV
CUSIP:
901643106
First Trade Date:
January 28, 2025
Regular Way Trading Begins:
January 30, 2025
Settlement Date:
January 31, 2025
