Fat Brands, Inc 8-K

What Happened
Fat Brands, Inc. announced it commenced voluntary Chapter 11 proceedings on January 26, 2026. On January 28, 2026 Nasdaq’s Listing Qualifications Staff issued a Delisting Notice determining the company’s securities will be suspended at the open of business on February 4, 2026 and removed from Nasdaq. The company said it will not appeal and expects the securities to move to the Pink Limited Market (OTC “pink sheets”) after delisting.

Key Details

• Chapter 11 filing: commenced January 26, 2026; Delisting Notice dated January 28, 2026.
• Affected securities/tickers: Class A Common Stock (FAT), Class B Common Stock (FATBB), Series B Cumulative Preferred Stock (FATBP).
• Nasdaq cited Listing Rules 5101, 5110(b) and IM-5101-1 and public interest/residual equity concerns; suspension effective at market open on February 4, 2026.
• Company expects trading to transfer to the Pink Limited Market (OTC), warns liquidity may fall and holders could face significant or total losses.

Why It Matters
Delisting from Nasdaq typically reduces liquidity, makes shares harder to buy/sell, and can depress market price. Trading on the pink sheets is more limited and broker-dealers may stop providing quotes. During the Chapter 11 process, recoveries for equity holders are uncertain and could be minimal or nil; the company explicitly warned holders of the risk of significant or complete loss. Investors should treat trading in FAT, FATBB and FATBP as highly speculative and review the company’s SEC filings and Chapter 11 disclosures for developments.