Geoff Gannon March 9, 2007

On Rights Offerings and Western Sizzlin

George of Fat Pitch Financials just wrote an excellent account of his experience investing in Western Sizzlin (WSZL) through a rights offering. He sold the shares, because he had bought them for his special situations portfolio. However, he also gives his thoughts on the company and its Chairman, Sardar Biglari.

As you know, Biglari has been embroiled in a battle over Friendly’s (FRN). It seems he’s winning and shareholders in Western Sizzlin are profiting from that victory.

George’s account is a good read for those interested in rights offerings and for those interested in Western Sizzlin.

Friendly’s shareholders might want to read it as well.

Visit Fat Pitch Financials

Related Reading

The Week of Activist Investors

Friendly’s CEO Resigns; Largest Shareholder Requests Seats (my 9/29/06 story on Biglari and Friendly’s)