Better Choice Company Inc. - BTTR STOCK NEWS

Better Choice Company (NYSE American: BTTR) announced that board members and senior management of SRx Health Solutions Inc. have purchased 10,000 shares of Better Choice common stock in the open market. Additionally, Better Choice has activated its share repurchase program and has been buying shares amid market volatility.

Adesh Vora, SRx Health Founder and CEO, stated that they believe Better Choice is undervalued and their investment demonstrates confidence in the combined businesses, growth prospects, operational excellence, and strong cash flow. The company is committed to enhancing shareholder value and will continue to be opportunistic with share repurchases.

Better Choice Company (NYSE American: BTTR) has provided shareholders with an update on its pro-forma and as-adjusted balance sheet. The company reported a 6% increase in Pro Forma Adjusted Net Tangible Book Value Per Share (NTBVPS) to $4.07 and a 16% increase in Pro Forma Adjusted Net Current Asset Value Per Share (NCAVPS) to $3.94. These figures are based on the company's financial position as of June 30, 2024, and take into account the recent public offering and a settlement agreement with Alphia, Inc.

The company also highlighted its pending acquisition of SRx Health Solutions Inc., which is expected to close in Q4 2024, subject to stockholder approvals and other customary conditions. Better Choice's Chairman, Michael Young, expressed optimism about the potential additional value this acquisition could bring to shareholders.

Better Choice Company (NYSE American: BTTR) has signed a definitive agreement to acquire SRx Health Solutions Inc. for approximately $125 million in an all-stock transaction. This acquisition will transform Better Choice into a leading global health and wellness company, combining its pet products with SRx Health's specialty pharmacy network in Canada. Key highlights include:

- Combined company net revenue of ~$95 million for H1 2024
- Projected 2025 revenue of $270+ million and EBITDA of $10+ million
- SRx Health's 2023 performance: C$161.5 million revenue and C$11.4 million pro forma Adjusted EBITDA
- Post-acquisition ownership: SRx 75%+, Better Choice shareholders 15%
- 8% dividend of Halo, Purely For Pets, Inc. stock to Better Choice shareholders

Better Choice Company Inc. (NYSE American: BTTR) reported strong Q2 2024 results, with net income increasing 190% to $2.7 million year-over-year. EPS grew 170% to $2.98, and Adjusted EBITDA improved 98% to nearly break-even. The company recognized a $3.6 million gain on extinguishment of debt. Revenue increased 8% to $8.5 million from Q1 2024, while gross margin improved 403 basis points to 38% year-over-year. Operating loss decreased 72% to $(0.7) million. The company's strategic shifts are showing positive results, with 27% growth in the International channel and 11% growth in the Digital channel. Better Choice is focusing on the Halo brand, targeting the $50 billion US & Canada pet food markets and the $30 billion Asia-Pacific region.

Better Choice Company (NYSE American: BTTR), a pet health and wellness company, has announced its upcoming Second Quarter 2024 Financial Results Conference Call. The event is scheduled for Tuesday, August 13, 2024, at 4:30 p.m. ET. Investors and interested parties can join the live call by dialing 1-844-826-3035 (US) or 1-412-317-5195 (international). Alternatively, a webcast will be available for those unable to join the conference call. The webcast replay will remain accessible for 90 days under the 'Events & Presentations' section of the company's website. This call will provide an opportunity for Better Choice to discuss its Q2 2024 financial performance and offer a business update to shareholders and analysts.

Better Choice Company Inc. (NYSE American: BTTR) has formed a special committee to evaluate M&A and asset monetization opportunities. The committee, consisting of Lionel Conacher, John Word III, and Michael Young, will explore options including joint ventures, acquisitions, and dispositions. This move follows the termination of Alphia Inc's right of first refusal, which had previously hindered the company's ability to pursue corporate transactions.

Michael Young, Chairman of Better Choice, stated that this development removes a major obstacle in the company's pursuit of transactions that could benefit shareholders. The committee may also re-engage with candidates who had previously expressed interest in discussions with the company.

Better Choice Company Inc. (NYSE American: BTTR) has announced positive preliminary financial results for Q2 2024. The pet health and wellness company estimates:

- Net income of $2.7 million for Q2 2024, a 190% increase year-over-year (YOY)
- Basic EPS of $2.98 per share for Q2 2024, a 170% increase YOY
- Halo, its premium pet food asset, breaking even with $0.02 million Adj. EBITDA for H1 2024, a 101% increase YOY

The company also reported a 20% improvement in cash used in operating activities for H1 2024. CEO Kent Cunningham attributed the improved performance to debt retirement, strong topline sales growth, and renewed focus on the Halo brand.

Better Choice Company Inc. (NYSE American: BTTR) has closed its public offering of 639,000 common stock shares and Pre-funded warrants for 1,028,000 shares. The offering was priced at $3.00 per share, raising approximately $5 million in gross proceeds. ThinkEquity acted as the sole book-running manager. The company plans to use the net proceeds for general corporate purposes, including working capital, sales and marketing, and operating expenses. Better Choice has also granted underwriters a 45-day option to purchase up to an additional 100,000 shares or Pre-Funded Warrants at the public offering price less the underwriting discount.

Better Choice Company Inc. (NYSE American: BTTR) has successfully closed its public offering, raising approximately $5 million in gross proceeds. The offering included 639,000 shares of common stock and Pre-Funded Warrants to purchase 1,280,000 shares, both priced at $3.00 per share. ThinkEquity acted as the sole book-running manager for the offering. The company plans to use the net proceeds for general corporate purposes, including working capital, sales and marketing, and operating expenses. Additionally, Better Choice has granted the underwriters a 45-day option to purchase up to an additional 100,000 shares of common stock and/or Pre-Funded Warrants at the public offering price less the underwriting discount.