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Better Choice Company Announces Notification of Noncompliance with Additional NYSE American Continued Listing Standards

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Better Choice Company Inc., a pet health and wellness company listed on NYSE American under the symbol BTTR, received a notice of noncompliance with NYSE American listing standards due to insufficient stockholders' equity and recurring losses. The company must submit a compliance plan by May 24, 2024, to address the deficiencies and risks potential delisting if not resolved by October 24, 2025.

Better Choice Company Inc., un'azienda del settore salute e benessere degli animali domestici quotata alla NYSE American con il simbolo BTTR, ha ricevuto un avviso di non conformità agli standard di quotazione della NYSE American a causa di un capitale insufficiente e perdite ricorrenti. L'azienda deve presentare un piano di conformità entro il 24 maggio 2024 per risolvere queste carenze e rischia la possibile cancellazione dalla lista se il problema non viene risolto entro il 24 ottobre 2025.
Better Choice Company Inc., una empresa de salud y bienestar para mascotas cotizada en NYSE American bajo el símbolo BTTR, recibió una notificación de incumplimiento con los estándares de cotización de NYSE American debido a un patrimonio neto insuficiente y pérdidas recurrentes. La compañía debe presentar un plan de cumplimiento antes del 24 de mayo de 2024 para abordar estas deficiencias y corre el riesgo de ser excluida de la lista si no se resuelve antes del 24 de octubre de 2025.
NYSE American에서 BTTR 심볼로 상장된 애완 동물 건강 및 웰빙 회사인 Better Choice Company Inc.는 주주 자본 부족과 반복적인 손실로 인하여 NYSE American 상장 기준을 준수하지 못했음을 통보 받았습니다. 이 회사는 2024년 5월 24일까지 이러한 결함을 해결하기 위한 준수 계획을 제출해야 하며, 2025년 10월 24일까지 해결되지 않으면 상장 폐지 위험이 있습니다.
Better Choice Company Inc., une entreprise de santé et de bien-être pour animaux de compagnie cotée au NYSE American sous le symbole BTTR, a reçu un avis de non-conformité aux normes de cotation du NYSE American en raison d'un capital propre insuffisant et de pertes récurrentes. L'entreprise doit soumettre un plan de conformité avant le 24 mai 2024 pour remédier à ces déficiences, et risque une radiation potentielle si le problème n'est pas résolu d'ici le 24 octobre 2025.
Better Choice Company Inc., ein Unternehmen für Gesundheit und Wohlbefinden von Haustieren, das unter dem Symbol BTTR an der NYSE American gelistet ist, erhielt eine Mitteilung über die Nicht-Einhaltung der Listing-Standards der NYSE American aufgrund unzureichenden Eigenkapitals und wiederkehrender Verluste. Das Unternehmen muss bis zum 24. Mai 2024 einen Compliance-Plan vorlegen, um diese Mängel zu beheben, und riskiert eine mögliche Streichung von der Liste, falls dies bis zum 24. Oktober 2025 nicht behoben wird.
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  • The Better Choice Company Inc. faces noncompliance with NYSE American listing standards, indicating financial challenges with stockholders' equity below required levels and recurring losses. The potential risk of delisting looms if compliance is not achieved by October 2025, impacting the company's stock performance and investor confidence.

NEW YORK, April 29, 2024 (GLOBE NEWSWIRE) -- Better Choice Company Inc. (NYSE American: BTTR) (the “Company” or “Better Choice”), a pet health and wellness company, announced today that it received a notice (the “Notice”) from the NYSE American LLC (the “NYSE American”) dated April 24, 2024, notifying the Company that it is no longer in compliance with NYSE American continued listing standards. Specifically, the letter states that the Company is not in compliance with the continued listing standards set forth in Sections 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide (the "Company Guide"). Section 1003(a)(ii) requires a listed company to have stockholders' equity of $4 million or more if the listed company has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years. Section 1003(a)(iii) requires a listed company to have stockholders' equity of $6 million or more if the listed company has reported losses from continuing operations and/or net losses in its five most recent fiscal years. The Company reported a stockholders’ equity of $3.0 million as of December 31, 2023, and losses from continuing operations and/or net losses in three out of its four most recent fiscal years ended December 31, 2023.

The Notice has no immediate impact on the listing of the Company’s shares of common stock, par value $0.001 per share (the “Common Stock”), which will continue to be listed and traded on the NYSE American during the Plan period, subject to the Company’s compliance with the other listing requirements of the NYSE American. The Common Stock will continue to trade under the symbol “BTTR”, but will have an added designation of “.BC” to indicate the status of the Common Stock as “below compliance”. The notice does not affect the Company’s ongoing business operations or its reporting requirements with the Securities and Exchange Commission.

The Company must submit a plan of compliance (the "Plan") by May 24, 2024, addressing how it intends to regain compliance with Sections 1003(a)(ii) and (iii) of the Company Guide by October 24, 2025. The Company has begun to prepare its Plan for submission to the NYSE American by the May 24, 2024 deadline.

If the NYSE American accepts the Company’s plan, the Company will be able to continue its listing during the Plan period and will be subject to continued periodic review by the NYSE American staff. If the Plan is not submitted, or not accepted, or is accepted but the Company is not in compliance with the continued listing standards by October 24, 2025, or if the Company does not make progress consistent with the Plan during the plan period, the Company will be subject to delisting procedures as set forth in the NYSE American Company Guide. The Company may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the Company Guide.

The Company is committed to undertaking a transaction or transactions in the future to achieve compliance with the NYSE American’s requirements. However, there can be no assurance that the Company will be able to achieve compliance with the NYSE American’s continued listing standards within the required timeframe.

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 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.
Kent Cunningham, CEO

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


FAQ

What is the stock symbol for Better Choice Company Inc.?

Better Choice Company Inc. trades on the NYSE American under the symbol BTTR.

What was the stockholders' equity reported by Better Choice Company Inc. as of December 31, 2023?

Better Choice Company Inc. reported a stockholders' equity of $3.0 million as of December 31, 2023.

When must Better Choice Company Inc. submit a plan of compliance?

Better Choice Company Inc. must submit a plan of compliance by May 24, 2024.

What is the potential consequence if Better Choice Company Inc. fails to comply with the NYSE American listing standards by October 24, 2025?

If Better Choice Company Inc. fails to comply with the NYSE American listing standards by October 24, 2025, it risks delisting from the exchange.

What designation will be added to Better Choice Company Inc.'s Common Stock symbol to indicate noncompliance?

Better Choice Company Inc.'s Common Stock will have an added designation of '.BC' to indicate 'below compliance'.

Better Choice Company Inc.

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