Better Choice Company Announces Closing of the SRx Health Merger, Name/Symbol Change and Completes $8.8 Million Private Placement Priced Above Last Market Closing Price
Better Choice Company (NYSE: BTTR) has announced the completion of its merger with SRx Health Solutions and an $8.8 million private placement. The company will issue 28.6 million shares of common stock for the business combination and will undergo a name change to 'SRx Health Solutions Inc.' with a new ticker symbol 'SRXH' effective April 30, 2025.
The private placement, priced at $2.18 per share, involves the sale of 4,036,697 shares of common stock and pre-funded warrants to an institutional investor. The transaction positions the combined entity as a global health and wellness company focused on providing solutions for pets, people, and families. ThinkEquity served as the M&A advisor for the transaction.
Better Choice Company (NYSE: BTTR) ha annunciato il completamento della fusione con SRx Health Solutions e un collocamento privato da 8,8 milioni di dollari. La società emetterà 28,6 milioni di azioni ordinarie per la combinazione aziendale e cambierà nome in 'SRx Health Solutions Inc.', con un nuovo simbolo di borsa 'SRXH' a partire dal 30 aprile 2025.
Il collocamento privato, al prezzo di 2,18 dollari per azione, prevede la vendita di 4.036.697 azioni ordinarie e warrant pre-finanziati a un investitore istituzionale. L’operazione posiziona l’entità combinata come un’azienda globale nel settore della salute e del benessere, focalizzata su soluzioni per animali domestici, persone e famiglie. ThinkEquity ha svolto il ruolo di consulente M&A per la transazione.
Better Choice Company (NYSE: BTTR) ha anunciado la finalización de su fusión con SRx Health Solutions y una colocación privada de 8,8 millones de dólares. La compañía emitirá 28,6 millones de acciones ordinarias para la combinación empresarial y cambiará su nombre a 'SRx Health Solutions Inc.' con un nuevo símbolo bursátil 'SRXH' a partir del 30 de abril de 2025.
La colocación privada, con un precio de 2,18 dólares por acción, incluye la venta de 4.036.697 acciones ordinarias y warrants prefinanciados a un inversor institucional. La transacción posiciona a la entidad combinada como una empresa global de salud y bienestar enfocada en ofrecer soluciones para mascotas, personas y familias. ThinkEquity actuó como asesor de fusiones y adquisiciones para la operación.
Better Choice Company (NYSE: BTTR)가 SRx Health Solutions와의 합병 완료 및 880만 달러 규모의 사모 배정을 발표했습니다. 회사는 사업 결합을 위해 2,860만 주의 보통주를 발행하며, 2025년 4월 30일부터 'SRx Health Solutions Inc.'로 사명을 변경하고 새로운 티커 심볼 'SRXH'를 사용합니다.
주당 2.18달러에 책정된 이번 사모 배정은 기관 투자자에게 4,036,697주의 보통주와 선발행 워런트를 판매하는 내용입니다. 이 거래는 반려동물, 사람, 가족을 위한 솔루션 제공에 중점을 둔 글로벌 건강 및 웰니스 기업으로서 결합된 법인의 입지를 강화합니다. ThinkEquity가 이번 거래의 M&A 자문을 맡았습니다.
Better Choice Company (NYSE : BTTR) a annoncé la finalisation de sa fusion avec SRx Health Solutions ainsi qu’un placement privé de 8,8 millions de dollars. La société émettra 28,6 millions d’actions ordinaires dans le cadre de cette opération et changera de nom pour devenir « SRx Health Solutions Inc. », avec un nouveau symbole boursier « SRXH » à compter du 30 avril 2025.
Le placement privé, fixé à 2,18 dollars par action, comprend la vente de 4 036 697 actions ordinaires et de bons de souscription préfinancés à un investisseur institutionnel. Cette transaction positionne l’entité fusionnée comme une entreprise mondiale de santé et de bien-être, axée sur des solutions pour les animaux de compagnie, les personnes et les familles. ThinkEquity a agi en tant que conseiller en fusions-acquisitions pour cette opération.
Better Choice Company (NYSE: BTTR) hat den Abschluss seiner Fusion mit SRx Health Solutions sowie eine Privatplatzierung in Höhe von 8,8 Millionen US-Dollar bekannt gegeben. Das Unternehmen wird 28,6 Millionen Stammaktien für die Unternehmenszusammenführung ausgeben und ab dem 30. April 2025 den Namen 'SRx Health Solutions Inc.' mit dem neuen Börsensymbol 'SRXH' führen.
Die Privatplatzierung, die zu einem Preis von 2,18 US-Dollar pro Aktie erfolgt, umfasst den Verkauf von 4.036.697 Stammaktien und vorfinanzierten Warrants an einen institutionellen Investor. Die Transaktion positioniert das kombinierte Unternehmen als globales Gesundheits- und Wellnessunternehmen, das Lösungen für Haustiere, Menschen und Familien anbietet. ThinkEquity war als M&A-Berater für die Transaktion tätig.
- Secured $8.8M private placement above market price
- Strategic merger expanding into broader health and wellness market
- Institutional investor participation demonstrates market confidence
- Significant share dilution through issuance of 28.6M new shares
- Additional dilution from 4.03M shares in private placement
Insights
Better Choice completes SRx merger with substantial share issuance, secures premium-priced $8.8M financing, and is rebranding to expand beyond pet health.
Better Choice Company's announcement reveals three major corporate developments that signal a significant strategic shift. The company has closed its business combination with SRx Health Solutions, issuing 28.6 million shares of common stock for the acquisition. This transaction fundamentally transforms the company from a pet-focused business to a broader health and wellness enterprise serving "pets, people, and families."
Concurrent with the merger, Better Choice secured
The company will complete its transformation by changing both its legal name to "SRx Health Solutions Inc." and its ticker symbol from "BTTR" to "SRXH" effective April 30, 2025. The chairman characterizes this as a "transformative opportunity" positioning the company as a "leading global health and wellness company."
While the substantial share issuance for the SRx acquisition indicates this is a material transaction that will significantly alter the company's capital structure and ownership composition, the announcement provides details about SRx Health's operations, existing revenue streams, or specific synergies beyond the general expansion of addressable markets. The participation of ThinkEquity as M&A advisor adds institutional credibility to the transaction.
TAMPA, Fla., April 25, 2025 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (NYSE American: BTTR) (“Better Choice” or the “Company”), a pet health and wellness company, today announced the closing of its business combination with SRx Health Solutions, Inc. (‘SRx Health’) and the closing of an
Better Choice will issue 28.6 million shares of common stock in connection with the closing of the business combination with SRx Health, pursuant to which the combined company will emerge as a leading global health and wellness company by providing better products and solutions for pets, people, and families. Additionally, Better Choice will change its legal name to “SRx Health Solutions Inc.” and ticker symbol from “BTTR” to “SRXH”, effective Wednesday, April 30, 2025.
Michael Young, Chairman of Better Choice Company, commented, “We want to thank our existing shareholders, the NYSE, and our new shareholders at SRX. This is a transformative opportunity that positions Better Choice as a leading global health and wellness company. We look forward to sharing updates with our shareholders in the future.”
The offer and sale of the foregoing securities is being made in a private placement in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act") and/or Regulation D promulgated thereunder, or applicable state securities laws. Accordingly, the securities offered in the private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
ThinkEquity Acted as M&A Advisor to the transaction.
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
What is the value of Better Choice Company's (BTTR) private placement announced in April 2025?
How many shares will BTTR issue for the SRx Health merger?
When will Better Choice Company (BTTR) change its ticker symbol to SRXH?
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