Better Choice Company Chairman Provides Shareholder Update on SRx Health Acquisition and Comments on Recent Debt-to-Equity Transaction
Better Choice Company (NYSE: BTTR) Chairman Michael Young provided an update on the company's pending acquisition of SRx Health Solutions. A strategic partner of SRx Health has converted debt to equity ahead of the merger closing, reducing debt by CAD$4 million. The deal structure includes a collar ensuring the number of BTTR shares issued to SRx Health remains unchanged regardless of SRx Health's shareholder composition.
The merger is scheduled to close in late-April 2025, with the combined entity positioned to become a leading global health and wellness company focusing on solutions for pets, people, and families.
Better Choice Company (NYSE: BTTR) Il presidente Michael Young ha fornito un aggiornamento sull'acquisizione in sospeso della SRx Health Solutions. Un partner strategico di SRx Health ha convertito un debito in capitale prima della chiusura della fusione, riducendo il debito di CAD$4 milioni. La struttura dell'accordo include un collar che garantisce che il numero di azioni BTTR emesse a SRx Health rimanga invariato indipendentemente dalla composizione degli azionisti di SRx Health.
La fusione è prevista per la fine di aprile 2025, con l'entità combinata posizionata per diventare un'azienda leader globale nel settore della salute e del benessere, concentrandosi su soluzioni per animali domestici, persone e famiglie.
Better Choice Company (NYSE: BTTR) El presidente Michael Young proporcionó una actualización sobre la adquisición pendiente de SRx Health Solutions. Un socio estratégico de SRx Health ha convertido deuda en capital antes del cierre de la fusión, reduciendo la deuda en CAD$4 millones. La estructura del acuerdo incluye un collar que asegura que el número de acciones de BTTR emitidas a SRx Health permanezca sin cambios, independientemente de la composición de los accionistas de SRx Health.
Se prevé que la fusión se cierre a finales de abril de 2025, con la entidad combinada posicionada para convertirse en una empresa líder global en salud y bienestar, enfocándose en soluciones para mascotas, personas y familias.
Better Choice Company (NYSE: BTTR) 의 회장 마이클 영이 SRx Health Solutions 의 인수 진행 상황에 대해 업데이트를 제공했습니다. SRx Health의 전략적 파트너가 합병 종료 전에 부채를 자본으로 전환하여 부채를 CAD$4백만 줄였습니다. 거래 구조에는 SRx Health의 주주 구성에 관계없이 BTTR이 SRx Health에 발행하는 주식 수가 변경되지 않도록 보장하는 칼라가 포함되어 있습니다.
합병은 2025년 4월 말에 완료될 예정이며, 결합된 실체는 반려동물, 사람 및 가족을 위한 솔루션에 중점을 둔 글로벌 건강 및 웰니스 분야의 선도 기업으로 자리 잡을 것입니다.
Better Choice Company (NYSE: BTTR) Le président Michael Young a fourni une mise à jour sur l'acquisition en cours de SRx Health Solutions. Un partenaire stratégique de SRx Health a converti une dette en capital avant la clôture de la fusion, réduisant la dette de CAD$4 millions. La structure de l'accord comprend un collar garantissant que le nombre d'actions BTTR émises à SRx Health reste inchangé, quelle que soit la composition des actionnaires de SRx Health.
La fusion devrait être finalisée fin avril 2025, l'entité combinée étant positionnée pour devenir une entreprise leader mondiale dans le domaine de la santé et du bien-être, axée sur des solutions pour les animaux de compagnie, les personnes et les familles.
Better Choice Company (NYSE: BTTR) Vorsitzender Michael Young gab ein Update zum bevorstehenden Erwerb von SRx Health Solutions. Ein strategischer Partner von SRx Health hat vor dem Abschluss der Fusion Schulden in Eigenkapital umgewandelt und die Schulden um CAD$4 Millionen reduziert. Die Struktur des Deals umfasst eine Collar-Vereinbarung, die sicherstellt, dass die Anzahl der von BTTR an SRx Health ausgegebenen Aktien unabhängig von der Zusammensetzung der Aktionäre von SRx Health unverändert bleibt.
Die Fusion soll Ende April 2025 abgeschlossen werden, wobei das kombinierte Unternehmen als führendes globales Unternehmen im Bereich Gesundheit und Wellness positioniert ist, das sich auf Lösungen für Haustiere, Menschen und Familien konzentriert.
- CAD$4 million debt reduction through debt-to-equity conversion
- Strategic partner converted to equity holder, strengthening business relationships
- Deal collar protects share structure integrity
- Pending merger completion introduces execution risk
- Share dilution from upcoming merger transaction
TAMPA, Fla., April 04, 2025 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (NYSE American: BTTR) (“Better Choice” or the “Company”), a pet health and wellness company, Chairman, Michael Young, today provides shareholders with a update on its SRx Health Solutions, Inc. (“SRx Health”) acquisition and comments on SRx Health’s recent debt-to-equity transaction.
Michael Young, Chairman of Better Choice, commented, “We are excited to have one of SRx Health’s strategic partners become an equity holder, as we near the closing of our transaction together. With the deal collar in place, the new equity issued by SRx Health will not effect the shares issued from Better Choice to SRx Health. The shares issued to SRx Health remain the same regardless of how many shareholders they have. This debt-to-equity transaction strengthens the combined company with debt reduced by CAD
This investment is pending the closing of the merger between SRx Health Solutions and Better Choice Company, which is scheduled for late-April. Upon closing, the combined companies will emerge as a leading global health and wellness company, delivering enhanced products and solutions for pets, people, and families.
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.
About SRx Health
SRx operates as a Canadian healthcare service provider specializing in the Specialty Pharmacy segment of the pharmaceutical industry. Distinguishing itself as a National Specialty Pharmacy provider, SRx concentrates on overseeing a patient's healthcare journey, spanning from acute pharmaceutical needs to chronic and rare disease management. This unique focus positions SRx to deliver a more holistic and integrated solution, catering to the requirements of both patients and key healthcare stakeholders. Our all-encompassing end-to-end offerings include wholesale/distribution facilities, patient support programs, infusion clinics, retail pharmacies, co-designed clinical programs, clinical trials, and diagnostic services. Our strategic growth plan is forward-thinking and revolves around fostering increased collaboration with pharmaceutical manufacturers and prescribers. With a specific emphasis on the expanding market of chronic and rare diseases, we target specialty drugs associated with closed and limited distribution networks. The objective is to broaden their distribution and improve accessibility. Our overarching goal is to elevate our current presence from 34 to 100 specialty pharmacy locations across mid-sized population centers throughout Canada, thereby enhancing the scope of healthcare services and establishing new industry benchmarks. In the subsequent phase of SRx's evolution, we aim to extend our reach beyond the borders of Canada. Leveraging our comprehensive approach, we aspire to simplify healthcare on a global scale. For more information on SRx, please visit https://www.srxhealth.ca.
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
How much debt reduction will Better Choice Company (BTTR) achieve through SRx Health's debt-to-equity conversion?
When is the Better Choice Company (BTTR) merger with SRx Health Solutions expected to close?
Will SRx Health's debt-to-equity conversion affect the number of shares Better Choice (BTTR) issues for the acquisition?
What is the strategic focus of the combined Better Choice (BTTR) and SRx Health company post-merger?
