Ken Kuick, CFO of Fat Brands (FAT) said: “We are implementing several strategic initiatives to strengthen our balance sheet. Our dividend pause remains in effect, preserving $35-$40 million in annual cash flow. We are actively negotiating a debt restructuring with our noteholders. Additionally, we are advancing plans for a $75-$100 million equity raise at Twin Hospitality Group Inc. to pay down debt and fund new unit development. These actions, together with our significant cost savings from settled legal issues, are expected to put us on track to generate positive cash flow in upcoming quarters while building financial resilience and lowering our overall debt.”
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