Better Choice Company Signs Definitive Agreement for SRx Health Solutions to Convert CAD$4 Million in Debt to Equity
Better Choice Company (NYSE: BTTR) has announced that SRx Health Solutions has signed a definitive agreement to convert CAD$4 million in debt to equity. This strategic move is expected to improve SRx Health's working capital position and future cash flow. The debt conversion is contingent upon the completion of the pending merger between Better Choice and SRx Health Solutions, scheduled for late-April 2025. Upon merger completion, the combined entities aim to establish themselves as a leading global health and wellness company, focusing on integrated healthcare solutions for pets, people, and families.
Better Choice Company (NYSE: BTTR) ha annunciato che SRx Health Solutions ha firmato un accordo definitivo per convertire 4 milioni di dollari canadesi di debito in capitale azionario. Questa mossa strategica dovrebbe migliorare la posizione di capitale circolante di SRx Health e il flusso di cassa futuro. La conversione del debito è subordinata al completamento della fusione in sospeso tra Better Choice e SRx Health Solutions, prevista per fine aprile 2025. Una volta completata la fusione, le entità combinate mirano a affermarsi come una delle principali aziende globali nel settore della salute e del benessere, concentrandosi su soluzioni sanitarie integrate per animali domestici, persone e famiglie.
Better Choice Company (NYSE: BTTR) ha anunciado que SRx Health Solutions ha firmado un acuerdo definitivo para convertir 4 millones de dólares canadienses de deuda en capital. Este movimiento estratégico se espera que mejore la posición de capital de trabajo de SRx Health y el flujo de caja futuro. La conversión de la deuda está sujeta a la finalización de la fusión pendiente entre Better Choice y SRx Health Solutions, programada para finales de abril de 2025. Una vez completada la fusión, las entidades combinadas tienen como objetivo establecerse como una empresa líder global en salud y bienestar, enfocándose en soluciones de atención médica integradas para mascotas, personas y familias.
베터 초이스 컴퍼니 (NYSE: BTTR)는 SRx 헬스 솔루션즈가 400만 캐나다 달러의 부채를 자본으로 전환하는 최종 계약을 체결했다고 발표했습니다. 이 전략적 움직임은 SRx 헬스의 운전 자본 위치와 미래 현금 흐름을 개선할 것으로 예상됩니다. 부채 전환은 베터 초이스와 SRx 헬스 솔루션즈 간의 보류 중인 합병이 완료되는 조건에 따라 이루어집니다. 이 합병은 2025년 4월 말로 예정되어 있습니다. 합병이 완료되면, 결합된 회사는 애완동물, 사람 및 가족을 위한 통합 의료 솔루션에 중점을 두고 글로벌 건강 및 웰빙 분야의 선도 기업으로 자리 잡는 것을 목표로 합니다.
Better Choice Company (NYSE: BTTR) a annoncé que SRx Health Solutions a signé un accord définitif pour convertir 4 millions de dollars canadiens de dette en capital. Ce mouvement stratégique devrait améliorer la position de fonds de roulement de SRx Health et le flux de trésorerie futur. La conversion de la dette est conditionnée par l'achèvement de la fusion en attente entre Better Choice et SRx Health Solutions, prévue pour fin avril 2025. Une fois la fusion achevée, les entités combinées visent à s'établir comme une entreprise mondiale leader dans le domaine de la santé et du bien-être, en se concentrant sur des solutions de santé intégrées pour les animaux de compagnie, les personnes et les familles.
Better Choice Company (NYSE: BTTR) hat bekannt gegeben, dass SRx Health Solutions eine endgültige Vereinbarung unterzeichnet hat, um 4 Millionen kanadische Dollar Schulden in Eigenkapital umzuwandeln. Diese strategische Entscheidung wird voraussichtlich die Liquiditätsposition von SRx Health und den zukünftigen Cashflow verbessern. Die Schuldenumwandlung ist abhängig vom Abschluss der bevorstehenden Fusion zwischen Better Choice und SRx Health Solutions, die für Ende April 2025 geplant ist. Nach Abschluss der Fusion streben die fusionierten Unternehmen an, sich als führendes globales Unternehmen im Bereich Gesundheit und Wellness zu etablieren, mit einem Fokus auf integrierte Gesundheitslösungen für Haustiere, Menschen und Familien.
- CAD$4 million debt reduction through equity conversion
- Improvement in working capital and future cash flow
- Strategic merger advancement with SRx Health Solutions
- Potential shareholder dilution from debt-to-equity conversion
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, is pleased to announce that SRx Health Solutions, Inc. (“SRx Health”) has signed a definitive agreement to convert
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
What is the value of the debt-to-equity conversion announced by Better Choice Company (BTTR)?
When is the merger between Better Choice Company (BTTR) and SRx Health Solutions expected to close?
How will the debt conversion affect SRx Health Solutions' financial position?
What is the strategic goal of the BTTR and SRx Health Solutions merger?
