Better Choice Company (NYSE American: BTTR), a pet health and wellness company, has closed on its public offering. The offering consisted of 639,000 shares of common stock as well as prefunded warrants to purchase 1,028,000 shares of its common stock. According to the announcement, each share of common stock and prefunded warrant was sold at $3 per share (inclusive of the prefunded warrant exercise price), resulting in gross proceeds of approximately $5 million, before underwriting discounts and offering expenses were deducted.
The announcement also noted that Better Choice granted the underwriters a 45-day option to purchase up to an additional 100,000 shares of common stock and/or prefunded warrants; those shares were offered at the public offering price less the underwriting discount.
Better Choice anticipates using the proceeds from the offering for general corporate purposes, including working capital, sales and marketing, and operating expenses. ThinkEquity acted as sole book-running manager for the offering.
To view the full press release, visit https://ibn.fm/eLF2C
About Better Choice Company Inc.
Better Choice Company is a rapidly growing pet health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier and longer lives. The company takes an alternative, nutrition-based approach to pet health relative to conventional dog and cat food offerings, positioning its portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. Better Choice has a demonstrated, multidecade track record of success selling trusted pet health and wellness products. The company leverages its established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. The company sells the majority of its dog food, cat food and treats under the Halo brand, which is focused, respectively, on providing sustainably sourced kibble and canned food derived from real whole meat and minimally processed raw-diet dog food and treats. For more information about the company, please visit www.BetterChoiceCompany.com.
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