Core Viewpoint - Better Choice Company has reached a settlement with Alphia, resulting in the retirement of $5.0 million in senior secured debt and the elimination of approximately $5.0 million in other indebtedness, which can yield savings of up to $2.7 million if paid within 90 days [1][3]. Financial Impact - The company has retired $5.0 million in principal and $0.4 million in payable-in-kind accrued interest as of March 31, 2024 [1]. - Additionally, 335,640 warrants with a strike price of $11.44 per share have been retired [1][6]. - The elimination of other indebtedness is expected to occur at 56% of face value within 90 days [3]. Business Strategy - Better Choice Company focuses on pet health and wellness, offering a diverse range of products under the Halo brand, including foods, treats, dental products, and supplements [3]. - The company aims to capitalize on trends in pet humanization and consumer health consciousness [3]. Leadership and Future Outlook - The Chairman of the Board expressed confidence in the leadership team and indicated that the company is now positioned for growth and profitability following the debt retirement and the extended manufacturing relationship with Alphia [4].
Better Choice Company Set to Retire up to $10.4M of Debt Obligations and Majority of Outstanding Warrants