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Better Choice Company Adjourns Special Meeting of Stockholders to March 21, 2025
Globenewswire· 2025-02-19 19:44
Core Points - Better Choice Company, Inc. has adjourned its Special Meeting to March 21, 2025, to allow SRx Health Solutions, Inc. to pursue its shareholder vote and finalize necessary court orders for an arrangement transaction [1][2] - Approximately 71% of Better Choice's common stock was represented by proxies at the time of adjournment, indicating a quorum and sufficient votes for approval of all proposals in the Proxy Statement [2] - The Company plans to file a supplement to the Proxy Statement to provide shareholders with updated materials for informed voting [3] - The adjourned Special Meeting will be held via live webcast, with the record date for voting remaining January 21, 2025 [4] Company Overview - Better Choice Company, Inc. is focused on pet health and wellness, promoting products that enhance the health and longevity of pets [5] - The Company adopts a nutrition-based approach to pet health, differentiating itself from conventional pet food offerings [5] - Better Choice's primary brand, Halo, offers sustainably sourced dog and cat food, emphasizing real whole meat and minimally processed raw diets [5]
Better Choice Company Signs Definitive Agreement to Sell Halo Asia for $8.1 Million in Total Gross Proceeds
Newsfilter· 2025-02-19 12:30
Core Viewpoint - Better Choice Company, Inc. has signed a definitive agreement to sell its Halo business in Asia for total gross proceeds of $8.1 million, which includes $6.5 million in cash at closing and a 3% royalty on sales over the next five years, with a guaranteed minimum royalty payment of $330,000 per year or $1.65 million in total [1][2]. Group 1 - The transaction allows Better Choice to retain ownership of its North American and rest-of-world operations outside of Asia [2]. - The expected closing date for the sale is April 2025 [2]. Group 2 - Better Choice Company is focused on pet health and wellness, promoting products that help pets live healthier and longer lives [3]. - The company emphasizes a nutrition-based approach to pet health, differentiating itself from conventional pet food offerings [3]. - The Halo brand, under which the majority of its products are sold, focuses on sustainably sourced ingredients and minimally processed diets for pets [3].
Better Choice Company Signs Non-Binding Term Sheet to Sell Halo Asia for $6.5 Million in Cash at Closing and a 5-Year Royalty Valued at a Minimum of $1.65 Million
Globenewswire· 2025-01-28 14:00
Core Viewpoint - Better Choice Company has signed a non-binding term sheet to sell its Halo business in Asia for $6.5 million in cash, along with a 3% royalty on sales over the next five years, while retaining ownership of its North American and rest-of-world operations [1][2][3]. Group 1: Transaction Details - The sale price for the Halo business in Asia is set at $6.5 million in cash at closing [1]. - The Buyer has paid a $500,000 non-refundable deposit, indicating commitment to the transaction [2]. - A minimum royalty payment of $330,000 per year is guaranteed, totaling $1.65 million over five years [1]. Group 2: Strategic Implications - The transaction is expected to strengthen Better Choice's balance sheet and allow for a greater focus on North American and global operations [3]. - The company is actively exploring ways to create shareholder value through this sale and other strategic initiatives [3]. Group 3: Company Overview - Better Choice Company is a growing pet health and wellness company that emphasizes nutrition-based approaches to pet health [4]. - The company markets its products under the Halo brand, which focuses on sustainably sourced pet food options [4].
Zacks Initiates Coverage of Better Choice With Neutral Recommendation
ZACKS· 2024-12-24 15:41
Core Viewpoint - Zacks Investment Research has initiated coverage of Better Choice Company, Inc. (BTTR) with a Neutral recommendation, indicating a balanced outlook on the company's performance in the competitive pet care industry [1] Company Performance - Better Choice achieved its first profitable quarter in over four years in Q3 2024, reporting adjusted EBITDA of over $0.2 million and improved gross margins of 40% [7] - The company has made significant progress in digital sales channels, which now account for a substantial portion of its revenues, with increased repeat purchases and strong subscription growth [6] Market Position and Challenges - Better Choice's market capitalization is modest at $4.2 million, and the stock has underperformed compared to peers and the broader market, trading at a significant discount relative to industry averages [3][5] - The company faces challenges due to its reliance on Asia-Pacific markets, which exposes it to regulatory, economic, and competitive risks [2] - Elevated competition in the premium pet food sector, dominated by major players like Mars and Nestle, necessitates continued investment in branding and innovation [8] Growth Opportunities - The company's growth is heavily driven by international markets, particularly in the Asia-Pacific region, where pet ownership is surging, especially among younger demographics seeking premium products [4] - Better Choice's acquisition of SRx Health Solutions enhances its revenue diversification strategy and aligns with its plans to enter the veterinary pharmaceuticals market under the "Better Pet Rx" initiative [9] Operational Efficiencies - Operational efficiencies have been noted, including a 48% reduction in inventory levels and a 97% supply chain fill rate, which support the company's recent profitability and position it for sustained growth into 2025 [7]
Better Choice Company Provides Shareholder Update Regarding its Authorized Stock Repurchase Program
Newsfilter· 2024-12-17 12:00
Core Viewpoint - Better Choice Company, Inc. is actively repurchasing shares as part of its stock repurchase program, indicating confidence in its valuation and growth prospects [1][2]. Company Overview - Better Choice Company, Inc. is a pet health and wellness company focused on providing nutrition-based products for pets, aiming to enhance the health and longevity of dogs and cats [3]. - The company primarily sells its products under the Halo brand, which emphasizes sustainably sourced ingredients and minimally processed options [3]. Stock Repurchase Program - The company has repurchased 102,405 shares at an average price of $1.9869 per share, under a program allowing up to $5 million in repurchases until December 31, 2024 [1][2]. - The repurchase strategy is influenced by various factors, including market conditions, stock availability, and the company's financial performance [2].
Better Choice pany (BTTR) - 2024 Q3 - Quarterly Results
2024-11-15 19:56
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value share BTTR NYSE American FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): November 12, 2024 Better Choice Company Inc. (Exact name of Registrant as Specified in its Charter) Delaware 001-40477 83-4284557 (State or other Jurisdiction ...
Better Choice pany (BTTR) - 2024 Q3 - Earnings Call Transcript
2024-11-15 07:47
Better Choice Company Inc. (NYSE:BTTR) Q3 2024 Earnings Conference Call November 12, 2024 4:30 PM ET Company Participants Valter Pinto - Investor Relations Kent Cunningham - Chief Executive Officer Nina Martinez - Chief Financial Officer Conference Call Participants Operator Good day, and welcome to the Better Choice 2024 Third Quarter Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note today's event is being recorded. I would now like to turn ...
Better Choice Shares Down Despite Posting Strong Q3 Earnings
ZACKS· 2024-11-14 18:26
Shares of Better Choice Company Inc. (BTTR) have lost 9.3% since the company reported its earnings for the quarter ended Sept. 30, 2024. This compares to the S&P 500 index’s -0.2% change over the same time frame. Over the past month, the stock moved -3.4% versus the S&P 500’s 3.3% change.For the third quarter of 2024, Better Choice’s EPS improved 132% year over year to 73 cents.  It reported revenues of $11.4 million, reflecting a decline of 13% from the prior-year quarter. Stay up-to-date with all quarterl ...
Better Choice pany (BTTR) - 2024 Q3 - Quarterly Report
2024-11-14 01:51
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 Or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40477 Better Choice Company Inc. (Exact name of registrant as specified in its charter) Delaware 83-4284557 (State or other j ...
Better Choice Company to Present at the Sidoti Micro Cap 2024 Virtual Conference
GlobeNewswire News Room· 2024-11-07 13:00
TAMPA, Fla., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE: BTTR) (“Better Choice” or “the Company”), a pet health and wellness company, today announced that management will be participating at the Sidoti Micro Cap Conference virtually on November 13-14th, 2024. Sidoti Micro Cap Virtual Conference:Date: Wednesday, November 13, 2024Time: 10:00 a.m. ETWebcast: https://sidoti.zoom.us/webinar/register/WN_Xi2-FlIBRs26Rl27QNnt2A Management will be available for 1x1 meetings throughout the conferen ...