Fatburger Owner Fat Brands Inc. Debuts on Nasdaq

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Fatburger Owner Fat Brands Inc. Debuts on Nasdaq
Fat Brands' roster of franchises includes Fatburger.

Fat Brands Inc. made its initial public offering on the Nasdaq yesterday after reaching its goal of raising $24 million on Friday.

The brand licensing subsidiary of Beverly Hills-based Fog Cutter Capital Group Inc. used federal crowdfunding regulations to sell 2 million shares at $12 each.

Fat Brands Inc., which valued itself at $96 million pre-IPO, used Regulation A+, which allows companies to raise up to $50 million from unaccredited investors.

The company’s stock has dipped slightly since its debut. Shares decreased almost 3 percent today to $11 per adjusted share at the close of markets from $11.32 at gthe end of its first day of trading.

Retail, restaurants and hospitality reporter Caroline Anderson can be reached at [email protected]. Follow her on Twitter @caroline_mander.

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