Better Choice Company Adjourns Special Meeting of Stockholders to March 21, 2025
Better Choice Company (NYSE: BTTR) has announced the adjournment of its special meeting to March 21, 2025, without conducting any business. The meeting was adjourned to allow SRx Health Solutions to pursue its shareholder vote and obtain final court approval for the arrangement transaction. The adjournment also provides time to update shareholders about corporate actions needed for NYSE American listing compliance.
At the time of adjournment, approximately 71% of BTTR's outstanding shares had submitted proxies, constituting a quorum with sufficient votes to approve all proposals, including the SRx arrangement transaction. The company plans to file and mail a supplementary proxy statement to ensure shareholders can make informed decisions. The record date remains January 21, 2025, and previously submitted proxies will remain valid unless properly revoked.
Better Choice Company (NYSE: BTTR) ha annunciato il rinvio della sua assemblea straordinaria al 21 marzo 2025, senza svolgere alcun affare. L'assemblea è stata rinviata per consentire a SRx Health Solutions di perseguire il voto degli azionisti e ottenere l'approvazione finale del tribunale per la transazione di accordo. Il rinvio fornisce anche tempo per aggiornare gli azionisti sulle azioni societarie necessarie per la conformità alla quotazione NYSE American.
Al momento del rinvio, circa il 71% delle azioni in circolazione di BTTR aveva presentato deleghe, costituendo un quorum con voti sufficienti per approvare tutte le proposte, inclusa la transazione di accordo SRx. L'azienda prevede di presentare e inviare una dichiarazione di delega supplementare per garantire che gli azionisti possano prendere decisioni informate. La data di registrazione rimane il 21 gennaio 2025 e le deleghe precedentemente presentate rimarranno valide a meno che non vengano revocate correttamente.
Better Choice Company (NYSE: BTTR) ha anunciado el aplazamiento de su reunión especial para el 21 de marzo de 2025, sin realizar ningún negocio. La reunión fue aplazada para permitir que SRx Health Solutions lleve a cabo su votación de accionistas y obtenga la aprobación final del tribunal para la transacción de acuerdo. El aplazamiento también proporciona tiempo para actualizar a los accionistas sobre las acciones corporativas necesarias para cumplir con la cotización en NYSE American.
En el momento del aplazamiento, aproximadamente el 71% de las acciones en circulación de BTTR habían presentado poderes, constituyendo un quórum con suficientes votos para aprobar todas las propuestas, incluida la transacción de acuerdo de SRx. La compañía planea presentar y enviar una declaración de poder complementaria para asegurar que los accionistas puedan tomar decisiones informadas. La fecha de registro se mantiene el 21 de enero de 2025, y los poderes presentados anteriormente seguirán siendo válidos a menos que sean revocados correctamente.
Better Choice Company (NYSE: BTTR)는 특별 회의를 2025년 3월 21일로 연기한다고 발표했습니다. 회의는 어떤 사업도 진행하지 않고 연기되었습니다. 이 연기는 SRx Health Solutions가 주주 투표를 진행하고 거래 약정에 대한 최종 법원 승인을 받도록 허용하기 위한 것입니다. 연기는 또한 NYSE American 상장 준수를 위한 기업 행동에 대해 주주들에게 업데이트할 시간을 제공합니다.
연기 당시 BTTR의 발행주식의 약 71%가 위임장을 제출하여 모든 제안을 승인할 수 있는 충분한 투표를 갖춘 정족수를 구성했습니다. 회사는 주주들이 정보에 기반한 결정을 내릴 수 있도록 보장하기 위해 보충 위임장 성명을 제출하고 우편으로 발송할 계획입니다. 기준일은 2025년 1월 21일로 유지되며, 이전에 제출된 위임장은 적절히 철회되지 않는 한 유효합니다.
Better Choice Company (NYSE: BTTR) a annoncé le report de sa réunion spéciale au 21 mars 2025, sans mener d'affaires. La réunion a été reportée pour permettre à SRx Health Solutions de poursuivre son vote d'actionnaires et d'obtenir l'approbation finale du tribunal pour la transaction d'arrangement. Le report donne également le temps de mettre à jour les actionnaires sur les actions corporatives nécessaires pour la conformité à la cotation NYSE American.
Au moment du report, environ 71 % des actions en circulation de BTTR avaient soumis des procurations, constituant un quorum avec suffisamment de voix pour approuver toutes les propositions, y compris la transaction d'arrangement SRx. L'entreprise prévoit de déposer et d'envoyer une déclaration de procuration complémentaire pour garantir que les actionnaires puissent prendre des décisions éclairées. La date d'enregistrement reste le 21 janvier 2025, et les procurations précédemment soumises resteront valides à moins d'être correctement révoquées.
Better Choice Company (NYSE: BTTR) hat die Vertagung seiner außerordentlichen Hauptversammlung auf den 21. März 2025 angekündigt, ohne Geschäfte durchzuführen. Die Versammlung wurde vertagt, um SRx Health Solutions die Durchführung ihrer Aktionärsabstimmung und die endgültige Genehmigung des Gerichts für die Vereinbarungs-Transaktion zu ermöglichen. Die Vertagung bietet auch Zeit, um die Aktionäre über die erforderlichen Unternehmensmaßnahmen zur Einhaltung der NYSE American Listung zu informieren.
Zum Zeitpunkt der Vertagung hatten etwa 71 % der ausstehenden Aktien von BTTR Vollmachten eingereicht, was ein Quorum mit genügend Stimmen zur Genehmigung aller Vorschläge, einschließlich der SRx-Vereinbarungs-Transaktion, darstellt. Das Unternehmen plant, eine ergänzende Vollmachtsmitteilung einzureichen und zu versenden, um sicherzustellen, dass die Aktionäre informierte Entscheidungen treffen können. Das Stichtagsdatum bleibt der 21. Januar 2025, und zuvor eingereichte Vollmachten bleiben gültig, es sei denn, sie werden ordnungsgemäß widerrufen.
- 71% of shareholders have already submitted proxies with sufficient votes to approve all proposals
- Quorum has been achieved for the special meeting
- Meeting adjournment indicates potential delays in completing the SRx arrangement transaction
- Additional corporate actions needed to ensure NYSE American listing compliance
Insights
The adjournment of Better Choice Company's Special Meeting warrants careful analysis, as it introduces both procedural complexities and strategic implications for the pending SRx Health Solutions arrangement transaction. The 71% shareholder participation rate with sufficient votes for approval indicates strong initial support for the merger, which is a positive signal for deal momentum.
Several critical factors emerge from this development:
- The need to update materials regarding NYSE American listing compliance suggests potential structural adjustments to the transaction. This is important as maintaining listing compliance is fundamental for preserving shareholder value and market access.
- The requirement for SRx to secure both shareholder approval and court order from the Ontario Superior Court of Justice adds regulatory complexity to the transaction timeline. This multi-jurisdictional aspect requires careful coordination to ensure all legal requirements are satisfied.
- The decision to file a supplementary proxy statement indicates material updates to the transaction terms or structure. This transparency, while causing a delay, actually strengthens shareholder protection by ensuring fully informed voting.
The maintenance of the January 21, 2025 record date and the carrying forward of existing proxy votes provides stability to the approval process, while the month-long adjournment allows sufficient time for regulatory and corporate actions to be completed. This structured approach to addressing compliance requirements, while maintaining strong shareholder support, suggests a methodical process to ensure transaction quality rather than a fundamental deal risk.
TAMPA, Fla., Feb. 19, 2025 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (NYSE American: BTTR) (“Better Choice” or the “Company”), a pet health and wellness company, announced today that it convened its special meeting (“Special Meeting”) and immediately adjourned the meeting, with conducting any business, to March 21, 2025. The Special Meeting was adjourned as to all of the proposals contained in the Company’s definitive proxy statement filed with the Securities and Exchange Commission (“SEC”) on January 28, 2025 (the “Proxy Statement”), including the proposal to approve the arrangement transaction with SRx Health Solutions, Inc. (“SRx”). The Company adjourned the Special Meeting to allow SRx to continue to pursue its shareholder vote and the final order by the Ontario Superior Court of Justice required to consummate the arrangement transaction and to update Better Choice shareholders of certain corporate actions to be taken by SRx and the Company to ensure compliance with the NYSE American listing requirements.
At the time the Special Meeting was adjourned proxies had been submitted by Better Choice stockholders representing approximately
The Company intends to file with the SEC and mail a supplement to the Proxy Statement in connection with the Special Meeting to provide Better Choice stockholders sufficient time to review the updated materials and cast their votes on a fully informed basis.
As a result of the adjournment, the Special Meeting will now be held at 9:00 a.m., Eastern Time, on March 21, 2025, exclusively via live webcast at the following address: https://east.virtualshareholdermeeting.com/vsm/web?pvskey=BTTR2025SM. The record date for the stockholders to vote at the Special Meeting remains the close of business on January 21, 2025 (the “Record Date”). Stockholders as of the Record Date can vote, even if they have subsequently sold their shares. Proxies previously submitted with respect to the Special Meeting will be voted on all proposals at the adjourned Special Meeting unless properly revoked in accordance with the procedures described in the Proxy Statement, and stockholders who have previously submitted a proxy or otherwise voted need not take any action.
About Better Choice Company Inc.
Better Choice Company Inc. is a rapidly growing pet 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 pet 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 pet 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 brand, which is 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.
Kent Cunningham, CEO
Investor Contact:
KCSA Strategic Communications
Valter Pinto, Managing Director
T: 212-896-1254
Valter@KCSA.com
FAQ
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