Company: BTBDW
Filing Date: 2025-12-01
Form Type: 424B5
Source: 0001477932-25-008703
Chunk: 7

Company: BT Brands, Inc.
Filing Date: 2025-12-01
Form: 424B5
Chunk 7
---
 on the number of shares of Aero Common Stock held by the Aero stockholders as of the closing of the Merger (the “Merger Consideration”); At closing, it is expected that Aero shareholders and its advisor will own approximately 89% of the outstanding equity of the merged company and BT Brands, Inc. shareholders and its advisor will own approximately 11% of the outstanding equity; and |
| ·                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | At the effective time of the Merger, ATW Partners, LLC (“ATW”), the principal stockholder of Aero, and its designees will invest a minimum of $3 million up to a maximum of $5  million in a private placement of shares of BT Brands’ Series B Convertible Preferred Stock (the “Concurrent Financing”).                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| The Merger Agreement contemplates that prior to closing of the transactions contemplated thereby, we will complete a restructuring pursuant to which we will form a wholly-owned Wyoming subsidiary (“BT Group”), to which we will transfer all of our assets and liabilities (the “Restructuring”). It is then contemplated that we will distribute BT Group to the holders of our common stock (the “Spin-Off”), or to the holders of our common stock and the holders of our warrants, at such future date as determined by our board of directors. No holder of preferred stock will be entitled to receive any shares of BT Group in the Spin-Off.   The obligations of the parties to consummate the Merger are subject to the approval of the Merger Agreement and related matters by our shareholders, the approval of the listing of the Surviving Corporation’s common stock by Nasdaq, and certain other conditions set forth in the Merger Agreement. Accordingly, there can be no assurance that the Merger will be completed.  While the completion of the Merger remains subject to substantial conditions, we have incorporated by reference in this prospectus certain information about Aero, which we urge you to consider carefully.   On September 3, 2025, we filed a Current Report on Form 8-K which describes, among other things, the Merger and the material terms known to the parties at the time of the Series A-1 Convertible Preferred Stock and Series A-2 Convertible Preferred Stock to be issued to Aero stockholders in the Merger and the material terms of the Concurrent Financing known to the parties at the time.