Financial Data and Key Metrics Changes - The net investment income per share for Q3 2025 was $0.40, with a net asset value (NAV) per share of $12.75, reflecting a decrease of 2.1% from the previous quarter's NAV, partially due to a $0.16 per share special dividend and markdowns on underperforming assets [7][8] - The adjusted NAV per share for Q3 2025, accounting for the supplemental dividend, was $12.71, a non-GAAP measure introduced due to changes in the dividend policy [7] - The company declared a fourth quarter base dividend of $0.32 per share, with a net debt-to-equity ratio of 1.17 as of September 30, 2025, compared to 1.12 as of June 30, 2025 [8][15] Business Line Data and Key Metrics Changes - New investment commitments during the quarter totaled approximately $470.6 million across 27 portfolio companies, marking the highest level of new commitments since Q4 2021 [9] - 100% of originations in the quarter were in first-lien loans, indicating a continued focus on maintaining exposure to the top of the capital structure [9] - Total investments at fair value were $3.2 billion, with 98.2% in senior secured loans and a weighted average yield of 10.3% at amortized cost, down from 10.7% in the previous quarter [12][13] Market Data and Key Metrics Changes - The M&A market showed resilience, with total dollar volumes in Q3 2025 being 40.9% higher year-over-year compared to Q3 2024, driven by renewed risk-on sentiment among investors and lower borrowing costs [3][4] - The company noted that broader credit dynamics remain a concern, but it is comfortable with risk dynamics in the private credit space due to the overall health of portfolio fundamentals [5] Company Strategy and Development Direction - The company has adjusted its dividend policy to position itself well in a lower yield environment, emphasizing credit selection as a key focus [4] - The integration of the platform in 2022 has allowed the company to evaluate and invest in high-quality opportunities across various market segments [11] - The company aims to leverage its proximity to the investment banking franchise as a competitive advantage in evaluating opportunities [4] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the M&A activity being the start of a longer-term trend, driven by the need for private equity firms to exit existing portfolios and invest in new ones [22][23] - The company remains focused on maintaining its dividend and believes that fund managers will be rewarded for their credit selection in a lower-yielding environment [18] Other Important Information - The company repurchased over 2.1 million shares for $25.1 million during the quarter, which was NAV accretive [13] - The company issued $400 million of a five-year investment grade unsecured note with a coupon of 5.65%, which was oversubscribed [16] Q&A Session Summary Question: Thoughts on sustaining M&A activity into next year - Management believes the current M&A activity is the start of a longer-term trend, driven by the need for private equity firms to exit existing portfolios and invest in new ones [22][23] Question: Impact of increased activity on spreads - Management does not anticipate spreads to widen significantly in the near term, despite the increase in M&A activity [24] Question: Performance of non-accrual investment at Dental Brands - Management indicated that the non-accrual status was due to continued underperformance, but it represents a small exposure in the overall portfolio [25][26]

As filed with the Securities and Exchange Commission on November 4, 2025 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SRx HEALTH SOLUTIONS, INC. (Exact name of registrant as specified in its charter) (STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION) DELAWARE 5961 83-4284557 (PRIMARY STANDARD INDUSTRIAL CLASSIFICATION CODE NUMBER) (I.R.S. EMPLOYER IDENTIFICATION NUMBER) 12400 Race Tr ...

Core Insights - AcariaHealth is showcasing its innovative approach to specialty pharmacy solutions at the 2025 Healthcare Advocate Summit with a unique "Reimagine Access" Hackathon and expert sessions [1][6]. Group 1: Event Highlights - The "Reimagine Access" Hackathon will take place on September 2, 2025, focusing on real-world access challenges in healthcare, encouraging participants to brainstorm actionable solutions [2]. - An expert panel on biosimilars and market disruption is scheduled for September 4, 2025, where AcariaHealth leaders will discuss trends and payer mandates, along with a video highlighting the role of Provider Experience Managers [3]. - A roundtable discussion on the Medicare Prescription Payment Plan (M3P) will conclude the summit on September 5, 2025, providing an interactive platform for attendees to ask questions [5]. Group 2: Company Commitment - AcariaHealth emphasizes the importance of seamless access to care, aiming to reshape specialty pharmacy through innovation, advocacy, and compassion [6]. - The company is dedicated to supporting patients with complex conditions by leveraging its expertise and the resources of Centene Corporation, the largest Medicaid managed care organization [8].

Core Insights - Better Choice Company, Inc. has announced a definitive agreement with SRx Health Solutions, Inc. to convert $4 million in debt to equity, enhancing SRx Health's working capital and future cash flow [1] - This investment is contingent upon the merger between SRx Health and Better Choice, expected to close in late April, which will create a leading global health and wellness company [2] Company Overview - Better Choice Company, Inc. is focused on pet health and wellness, promoting nutrition-based products that cater to the growing trend of pet humanization and consumer health awareness [3] - The company primarily sells its products under the Halo brand, which emphasizes sustainably sourced ingredients and minimally processed options for pets [3] SRx Health Overview - SRx Health operates as a Canadian specialty pharmacy provider, focusing on comprehensive healthcare services from acute pharmaceutical needs to chronic disease management [4] - The company aims to expand its specialty pharmacy locations from 34 to 100 across Canada, with plans to extend its services internationally [4]

Core Insights - Better Choice Company is participating in the 2025 Bloom Burton & Co. Healthcare Investor Conference, highlighting its commitment to the pet health and wellness sector [1][2] - SRx Health, a Canadian healthcare service provider, will present at the same conference, showcasing its focus on specialty pharmacy services [1][5] Company Overview - Better Choice Company is dedicated to transforming the pet health industry by offering nutrition-based products aimed at enhancing the health and longevity of pets [3] - The company primarily markets its products under the Halo brand, which emphasizes sustainably sourced ingredients and minimally processed diets [3] SRx Health Overview - SRx Health specializes in the Specialty Pharmacy segment, providing comprehensive healthcare services that include patient support programs and clinical trials [5][6] - The company aims to expand its specialty pharmacy locations from 34 to 100 across Canada, focusing on chronic and rare diseases [6]