Company: BTBDW
Filing Date: 2025-12-01
Form Type: 424B5
Source: 0001477932-25-008703
Chunk: 1

Company: BT Brands, Inc.
Filing Date: 2025-12-01
Form: 424B5
Chunk 1
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 the meaning of the Securities Act and the compensation of Maxim will be deemed to be underwriting commissions or discounts. We have also agreed to provide indemnification and contribution to Maxim with respect to certain liabilities, including liabilities under the Securities Act and the Securities Exchange Act of 1934, as amended, or the Exchange Act.

Our common stock is listed on the Nasdaq Capital Market under the symbol “BTBD.” Warrants to purchase shares of our common stock issued by us on November 12, 2021 are listed on the Nasdaq Capital Market under the symbol “BTBDW.” On October 2, 2025, the last reported sale price of our common stock on the Nasdaq Capital Market was $2.11 per share. Sales of our common stock, if any, under this prospectus supplement, will be made by any method permitted that is deemed an “at the market offering” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”). Maxim is not required to sell any specific amount but will act as our sales agent using commercially reasonable efforts consistent with its normal trading and sales practices. There is no arrangement for funds to be received in any escrow, trust or similar arrangement.

As of October 2, 2025, the aggregate market value of our outstanding common stock held by non-affiliates, or the public float, is approximately $10,805,698, which is calculated based on 5,121,184 shares of our outstanding common stock held by non-affiliates and a price of $2.11 per share, the closing price of our common stock on October 2, 2025, which is the highest closing sale price of our common stock on the Nasdaq Capital Market within the prior 60 days of this prospectus. During the prior twelve calendar month period that ends on and includes the date hereof, we have not offered and sold any of our securities pursuant to General Instruction I.B.6 to Form S-3. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities registered on this registration statement in a public primary offering with a value exceeding more than one-third of our public float (the market value of our common stock held by our non-affiliates) in any 12-month period so long as our public float remains below $75.0 million. As of October 2, 2025, one-third of our public float is equal to