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On June 4, 2025, Twin Hospitality Group Inc. entered into an Exchange Agreement with FAT Brands Inc., converting $31,200,345 of liabilities into 7,139,667 shares of Class A Common Stock at $4.37 per share. This transaction, exempt from registration under the Securities Act, aims to strengthen Twin Hospitality’s financial position by reducing debt and potentially enhancing its market standing.
The news release from Twin Hospitality Group Inc. Class A does not provide specific details about the company’s industry, primary products, or market focus. The release primarily consists of disclaimers regarding the filing and updating of information, indicating that the company does not assume any obligation to correct or update the information presented in the investor presentation. Additionally, it disclaims any inferences regarding the materiality of the information furnished.
On May 15, 2025, Twin Hospitality Group Inc. announced the appointment of Kim Boerema as the new Chief Executive Officer, effective May 19, 2025. Boerema, a seasoned industry veteran, is expected to leverage his extensive experience in scaling and optimizing restaurant operations to drive the growth of Twin Peaks. His previous roles include leadership positions at Parry’s Pizzeria & Taphouse, Iron Hill Brewery and Restaurant, California Pizza Kitchen, and Texas Roadhouse. This strategic leadership change aims to enhance Twin Peaks’ brand integrity and operational excellence as it continues its global expansion.
On March 27, 2025, Twin Hospitality Group Inc. announced the resignation of CEO Joseph Hummel and Chief Legal Officer Clay Mingus, effective April 10, 2025, with CFO Kenneth Kuick appointed as Interim CEO. This leadership transition follows the company’s strategic growth, including opening two new lodges in 2025 and planning to expand further, highlighting the company’s commitment to maintaining its market position and continuing its development pipeline.