Better Choice Company Inc. - BTTR STOCK NEWS

Better Choice Company (NYSE American: BTTR) has successfully converted approximately $23 million of convertible notes into common equity, coinciding with its uplisting to the NYSE American. This conversion results in about 4.6 million common shares issued at a price of $5.00 each. With this transaction, the company anticipates a net cash position exceeding $30 million, maintaining only $12 million in debt. Approximately 39% of shareholders will be under a 180-day lock-up agreement. The CEO expressed optimism about growth opportunities post-uplisting, aiming to enhance visibility and pursue acquisitions.

Better Choice Company (NYSE: BTTR) has announced an underwritten public offering of 8,000,000 shares of common stock at $5.00 each, aiming to raise approximately $40 million before expenses. The offering includes an option for underwriters to purchase an additional 1,200,000 shares. Proceeds will be used for general corporate purposes and potential acquisitions. The SEC declared the registration statement effective on June 28, 2021. D.A. Davidson & Co. is the sole book-running manager for the offering.

Better Choice Company (OTCQX: BTTR) announced an underwritten public offering of 4,500,000 shares, post a proposed 1-for-6 reverse stock split. The offering includes a 30-day option for underwriters to purchase up to 15% more shares for over-allotments. Funds will primarily support working capital and general corporate purposes, with potential for acquisitions, though no agreements exist currently. The company aims to list on the NYSE American under BTTR. The offering's completion is subject to market conditions.

Better Choice Company (OTCQX: BTTR) continues to expand its Halo Brand in Asia, agreeing to minimum purchases exceeding $100 million with key partners from 2021 to 2025. This move accelerates sales growth in key Asian markets, previously reported at a 95% increase in 2020. Halo's success is attributed to strong demand for its holistic pet food and securing import registrations in China. CEO Scott Lerner emphasized the importance of partnerships for long-term growth planning and product innovation.

Better Choice Company (OTCQX: BTTR) has submitted an application for uplisting to the NYSE American exchange, as announced on June 10, 2021. Chairman Michael Young notes this is a significant milestone that aligns with their goal of uplisting by summer 2021. CEO Scott Lerner highlights that this move could enhance visibility and provide opportunities for capital investment, fostering organic growth and potential acquisitions. Better Choice focuses on providing health-oriented pet products, leveraging trends in pet humanization.

Better Choice Company (OTCQX: BTTR) announced an increase in insider ownership through open market purchases, totaling over 200,000 additional shares as of June 4, 2021. Chairman Michael Young highlighted this as a sign of confidence in the company’s growth prospects. The company remains on track to uplist to a major North American exchange this summer, following the filing of their S-1 on May 24, 2021. Better Choice focuses on nutrition-based pet products, aiming to enhance the health and wellness of dogs and cats.

Better Choice Company (OTCQX: BTTR) reported its Q1 2021 financial results, showing a net sales of $10.8M, down from $12.2M in Q1 2020. The company faced a loss from operations of $5.1M while Gross Sales amounted to $13.4M. Online sales represented 59% of total sales, with a strong performance from international markets, contributing 23% of net sales. The company secured $25.6M in minimum purchases with Asian partners and closed a $12.0M credit facility, reducing annual cash interest by $2M.

Better Choice Company (OTCQX: BTTR) will conduct a conference call on May 13, 2021, at 8:30 a.m. ET, focusing on the first quarter of 2021 operational and financial results. Interested participants can join via a toll-free number or through a live webcast. A recording of the call will be available until May 27, 2021. Better Choice is committed to enhancing animal health through a nutrition-based approach, primarily selling products under the Halo and TruDog brands.