BT Brands terminates merger agreement with Aero Velocity

BT Brands Inc. (NASDAQ: BTBD and BTBDW) terminated its merger agreement with Aero Velocity Inc. after the contractual term expired, the company announced.

The merger agreement required a registration statement for the proposed transaction to be declared effective by the Securities and Exchange Commission by April 30, 2026. The termination occurred in accordance with the merger agreement terms.

BT Brands filed a Current Report on Form 8-K regarding the termination. The company stated it has no remaining agreement or arrangement with Aero Velocity and is no longer pursuing the previously proposed transaction.

"After careful evaluation, the Board and management concluded that terminating the merger agreement was in the best interests of BT Brands shareholders," said Gary Copperud, Chief Executive Officer of BT Brands. "While we appreciated the opportunity to explore a potential transaction with Aero Velocity, our priority remains maximizing long-term shareholder value."

The company said it will continue evaluating opportunities to enhance shareholder value while focusing on improving restaurant profitability, strengthening cash flow, and maintaining balance sheet flexibility.

Additional information about the termination is contained in the company's Current Report on Form 8-K filed with the SEC on May 7, 2026.

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