お知らせ • Jan 10
Fat Brands Receives Non-Compliance Notice from Nasdaq
On January 8, 2026, FAT Brands Inc. (the “Company”) received separate written notices (each, a “Notice”) from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”) that, for the period between November 20, 2025 and January 7, 2026: With respect to the Company’s Class A Common Stock, the Company was not in compliance with the minimum bid price requirements set in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Class A Common Stock between November 20, 2025 and January 7, 2026, the Class A Common Stock no longer meets the minimum bid price requirement. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided a period of 180 calendar days, or until July 7, 2026, to regain compliance with the minimum bid price requirement. The Notice states that the Nasdaq staff will provide written notification that the Company has achieved compliance with Rule 5550(a)(2) if at any time before July 7, 2026, the closing bid price of the Class A Common Stock is at least $1.00 for a minimum of ten consecutive business days. With respect to the Company’s Class A Common Stock, the market value of listed securities (“MVLS”) has been below the minimum requirement of $35 million for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2). In accordance with Nasdaq Listing Rule 5810(c)(3)(C), the Company has been provided a period of 180 calendar days, or until July 7, 2026, to regain compliance with the MVLS requirement. The Notice states that the Nasdaq staff will provide written notification that the Company has achieved compliance with Rule 5550(b)(2) if at any time before July 7, 2026, the MVLS of the Class A Common Stock closes at $35 million or more for a minimum of ten consecutive business days. With respect to the Company’s Class B Common Stock, the market value of publicly held shares (“MVPHS”) closed below the $1,000,000 threshold required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(5). In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has been provided a period of 180 calendar days, or until July 7, 2026, to regain compliance with the MVPHS requirement with respect to the Class B Common Stock. The Notice states that the Nasdaq staff will provide written notification that the Company has achieved compliance with the MVPHS requirement if at any time before July 7, 2026, the MVPHS of the Class B Common Stock closes at $1,000,000 or more for a minimum of ten consecutive business days. The Notices have no immediate effect on the listing or trading of the Class A Common Stock or Class B Common Stock on The Nasdaq Capital Market. However, there can be no assurance that the Company will be able to regain compliance with the Nasdaq Listing Rules with respect to either the Class A Common Stock or Class B Common Stock during the compliance periods discussed above or during any subsequent extension period. If the Company does not regain compliance with the minimum requirements of the Nasdaq Listing Rules discussed above, or does not meet the other requirements for continued listing on The Nasdaq Capital Market with respect to its Class A Common Stock or Class B Common Stock, one or both of such securities will be subject to delisting by Nasdaq. In such event, the Company may appeal the Nasdaq staff’s determination to delist its securities, but there can be no assurance the Nasdaq staff would grant any request for continued listing or extension of the compliance periods.