Company: BTBDW
Filing Date: 2025-12-01
Form Type: 424B5
Source: 0001477932-25-008703
Chunk: 9

Company: BT Brands, Inc.
Filing Date: 2025-12-01
Form: 424B5
Chunk 9
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746,838 shares of our common stock issuable upon exercise of outstanding warrants, with an exercise price of $5.50 per share;                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                          | ·                                                                                                                                                                                                                                                                                                                | 718,250 additional shares of our common stock reserved for future issuance under our equity incentive plan;                                                        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                          | ·                                                                                                                                                                                                                                                                                                                | 250,000 shares potentially issuable under the Company’s 2023 Contingent Incentive Share Award grant to senior management;                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                          | ·                                                                                                                                                                                                                                                                                                                | 100,000 shares issuable under a consulting agreement with an advisor to the Company at $2.50 per share; and                                                        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                          | ·                                                                                                                                                                                                                                                                                                                | 192,000 shares issuable to underwriters of the Company’s IPO under a warrant expiring November 12, 2026 to purchase common stock at $5.50 per share.               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                          |                                                                                                                                                                                                                                                                                                                  | Unless otherwise indicated, all information in this prospectus supplement assumes no exercise of any outstanding options or warrants to purchase our common stock. |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

| S-3 |

<div align='center'>RISK FACTORS</div>

Before you make a decision to invest in our securities, you should consider carefully the risks described below, together with other information in this prospectus supplement and the information incorporated by reference herein, including any risk factors contained in our annual and other reports filed with the SEC. If any of the following events actually occur, our business, operating results, prospects or financial condition could be materially and adversely affected. This could cause the trading price of our common stock to decline and you may lose all or part of your investment. The risks described below are not the only ones that we face. Additional risks not presently known to us or that we currently deem immaterial may also significantly impair our business operations and could result in a complete loss of your investment.

Risks Related to this Offering

Our management will have broad discretion over the use of proceeds from this offering and may not use the proceeds effectively.

Our management will have broad discretion over the use of proceeds from this offering. We intend to use the net proceeds from this offering, if any, for working capital, acquisitions, capital expenditures and other general corporate purposes. If the Spin-Off is completed as intended, we expect that the net proceeds from this offering will be transferred to