Better Choice Announces Pricing of Public Offering of Common Stock
Better Choice Company (NYSE: BTTR) has announced an underwritten public offering of 8,000,000 shares of common stock at $5.00 each, aiming to raise approximately $40 million before expenses. The offering includes an option for underwriters to purchase an additional 1,200,000 shares. Proceeds will be used for general corporate purposes and potential acquisitions. The SEC declared the registration statement effective on June 28, 2021. D.A. Davidson & Co. is the sole book-running manager for the offering.
- The offering aims to raise $40 million for general corporate purposes.
- Potential for future acquisitions with proceeds from the offering.
- Dilution risk for existing shareholders due to the new share issuance.
NEW YORK, June 29, 2021 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE: BTTR) (“Better Choice” or the “Company”), an animal health and wellness company, today announced the pricing of its underwritten public offering of 8,000,000 shares of its common stock at a public offering price of
The aggregate gross proceeds to Better Choice from the public offering are expected to be
Better Choice plans to use the net proceeds of this offering for general corporate purposes. Better Choice may also elect to use proceeds from this offering to acquire complimentary technologies, products or businesses, although the Company is not a party to any letters of intent or definitive agreements for any such acquisition.
D.A. Davidson & Co. is acting as sole book-running manager for the offering. Roth Capital Partners is acting as lead-manager for the offering.
The Securities and Exchange Commission (“SEC”) declared effective a registration statement on Form S-1 relating to these securities on June 28, 2021. A final prospectus relating to this offering will be filed with the SEC. The offering is being made only by means of a prospectus. Electronic copies of the prospectus may be obtained by contacting D.A. Davidson & Co., Attention: Equity Syndicate, 8 Third Street North, Great Falls, MT 59401, (800) 332-5915, prospectusrequest@dadco.com. Investors may also obtain these documents at no cost by visiting the SEC’s website at http://www.sec.gov.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Better Choice Company Inc.
Better Choice Company Inc. is a rapidly 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.
Cautionary Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including with respect to the proposed offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the proceeds of the offering will be used as indicated. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in Better Choice’s filings with the SEC. Better Choice’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, Better Choice expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Better Choice’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
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
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