Better Choice Announces Increased Insider Participation

Rhea-AI Summary

Better Choice Company (BTTR) announced a notable increase in insider equity holdings from approximately 2.9 million to 7.6 million common shares, now covering about 26% of total equity. This growth follows a $40 million public offering and includes the conversion of convertible debt to common shares. With a net cash position exceeding $30 million, the company is poised to execute its growth strategy and pursue strategic mergers and acquisitions. The company's focus remains on nutrition-based pet products aimed at enhancing the health and wellness of pets.

Positive

• Insider ownership increased to approximately 7.6 million shares, accounting for 26% of total equity.
• Successful completion of a $40 million public offering.
• Net cash position surpassing $30 million supports growth and M&A strategies.

Negative

• None.

NEW YORK, July 08, 2021 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE American: BTTR) (“Better Choice”), an animal health and wellness company, announces that insiders have increased their common equity holdings from approximately 2.9 million common shares to approximately 7.6 million shares, representing approximately 26% of the aggregate common equity outstanding. In addition to meaningful insider participation in the recent $40 Million Underwritten Public Offering, this increase in common equity ownership reflects the automatic conversion of outstanding convertible debt and the Series F Preferred into common shares.

Michael Young, Chairman of Better Choice, stated, “We continue to deploy our own capital alongside investors and are excited about the future growth that awaits Better Choice. Following the closing of our recent underwritten public offering, Better Choice has a net cash position of greater than $30.0 million, which will enable our management team to execute on our international and domestic growth plans while simultaneously pursuing strategic M&A opportunities.”

About Better Choice Company, Inc.
Better Choice Company Inc. is a growing animal health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier and longer lives. We take an alternative, nutrition-based approach to animal health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted animal health and wellness products and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell the majority of our dog food, cat food and treats under the Halo and TruDog brands, which are focused, respectively, on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet dog food and treats. For more information, please visit https://www.betterchoicecompany.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Company Contact:
Better Choice Company, Inc.
Scott Lerner, CEO

Investor Contact:
KCSA Strategic Communications
Valter Pinto, Managing Director
PH: 212-896-1254
Valter@KCSA.com

FAQ

What is the increase in insider equity holdings for Better Choice Company (BTTR)?

Insider equity holdings have risen from approximately 2.9 million to 7.6 million common shares.

What was the amount raised in Better Choice's recent public offering?

Better Choice raised $40 million in its recent underwritten public offering.

What is the current cash position of Better Choice Company (BTTR)?

Better Choice has a net cash position of over $30 million.

What percentage of total equity do insiders now hold in Better Choice?

Insiders now hold approximately 26% of the total common equity.

What does Better Choice Company focus on in its product offerings?

Better Choice focuses on nutrition-based pet products aimed at improving the health and wellness of pets.