BT Brands (BTBD) IPO Opens Higher

Today's IPO for BT Brands, Inc. (NASDAQ: BTBD) opened for trading at $5.20 after pricing its initial public offering of 2,400,000 units at a price of $5.00 per unit. Each unit consists of one share of common stock and one warrant to purchase one share of common stock.

Maxim Group LLC and Joseph Gunnar & Co., LLC are acting as joint book-runners for the offering.

BT Brands is seeking to grow its existing business and to expand in the restaurant industry through the opportunistic acquisition of existing restaurant businesses. BT Brands currently owns and operates ten quick service restaurants including nine Burger Time restaurants in the north-central region of the United States. Burger Time has been satisfying customers with its signature Bigger Burger since 1987.

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