Better Choice Company Insiders Purchase 554,800 Common Shares As Part of Previously Announced Insider Purchase Program

Rhea-AI Summary

On May 18, 2022, Better Choice Company (NYSE: BTTR) reported that insiders purchased 554,800 shares, approximately 2% of the company's total shares, as part of a previously announced insider purchase program. This move signals confidence in the company's future, following a record first quarter. Additionally, a stock repurchase program has been authorized, allowing for up to $3 million in shares to be bought back by the end of 2022, though no shares have yet been repurchased. Better Choice focuses on pet health products, emphasizing nutrition-based approaches.

Positive

• Insiders acquired 554,800 shares, indicating strong internal confidence.
• Authorized stock repurchase program of up to $3 million allows for opportunistic buybacks.

Negative

• None.

NEW YORK, May 18, 2022 (GLOBE NEWSWIRE) -- Better Choice Company Inc. (NYSE: BTTR) (the “Company” or “Better Choice”), a pet health and wellness company, today announced that certain members of its Board of Directors and Management team (the “Insiders”) have purchased 554,800 common shares as part of the insider purchase program previously announced on May 13, 2022. This purchase, led by Executive Vice President of Sales Donald Young, represents approximately 2% of Better Choice’s basic common shares outstanding.

Michael Young, Chairman of the Board of Better Choice Company, stated, “After a record first quarter, our management team and board continue to align with shareholders by placing significant personal capital into the business. We continue to believe in what we are building and are here for the long term.”

In addition to the insider purchase program, the Board of Directors also announced the authorization of a stock repurchase program on May 12, 2022. Under the terms of this program, the Company can repurchase up to $3.0 million of the currently outstanding shares until December 31, 2022, using cash on hand. This program allows the Company to opportunistically take advantage of any adverse market volatility, as the Company is not obligated to repurchase any particular number of shares or any shares in any specific time period. To date no shares have been repurchased by the Company under this program.

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.
Scott Lerner, CEO

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

FAQ

What recent insider activity occurred for Better Choice Company (BTTR)?

On May 18, 2022, insiders purchased 554,800 shares of BTTR, indicating confidence in the company's prospects.

What is the stock repurchase program announced by Better Choice Company (BTTR)?

Better Choice authorized a stock repurchase program allowing for the buyback of up to $3 million in shares by December 31, 2022.

What percentage of shares do the recent insider purchases represent for Better Choice Company (BTTR)?

The insider purchases represent approximately 2% of Better Choice Company's total common shares outstanding.

How has Better Choice Company (BTTR) performed financially recently?

Better Choice reported a record first quarter performance, contributing to the confidence shown by the insiders' stock purchases.