Better Choice Company Reinstates Stock Repurchase Program and Increases Authorization to $6.5 Million
Rhea-AI Summary
Better Choice Company (NYSE: BTTR) has announced the reinstatement and expansion of its stock repurchase program, increasing the authorization to $6.5 million of outstanding common shares through December 31, 2025.
Under the previous $5 million program that expired December 31, 2024, the company repurchased 102,405 common shares at an average price of $1.9869 per share. The new repurchase program allows for shares to be bought through open market or private transactions, subject to Rule 10b-18 SEC requirements.
The timing and volume of repurchases will be determined by factors including stock availability, market conditions, trading price, and the company's financial performance. The program will be funded using cash on hand and can be modified, suspended, or discontinued at any time.
AI-generated analysis. Not financial advice.
Positive
- Increased buyback authorization to $6.5 million from previous $5 million program
- Management believes stock is undervalued, showing confidence in company's value
- Previous successful execution of buyback program with 102,405 shares repurchased
Negative
- Program may reduce company's cash reserves
- No guarantee of complete program execution as purchases depend on market conditions
News Market Reaction – BTTR
On the day this news was published, BTTR gained 8.02%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TAMPA, Fla., April 17, 2025 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (NYSE American: BTTR) (“Better Choice” or the “Company”), a pet health and wellness company, today announced that its Board of Directors has reinstated its stock repurchase program and increased authorization up to
Michael Young, Chairman of Better Choice, commented, “After repurchasing 102,405 common shares under our previous repurchase program in 2024, it is in the best interest of our shareholders to reinstate this program and increase the authorized amount up to
Shares may be repurchased in open market or private transactions or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission (“SEC”). The timing and amount of any repurchases will depend on a number of factors, including the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company’s financial performance. Open market purchases will be made in accordance with Rule 10b-18 of the SEC and other applicable legal requirements. The Company is not obligated to repurchase any particular number of shares or any shares in any specific time period and the program may be modified, suspended, or discontinued at any time. Payment for shares repurchased under the program will be funded using the Company's cash on hand.
About Better Choice Company Inc.
Better Choice Company Inc. 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. We take an alternative, nutrition-based approach to pet health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted pet health and wellness products and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell our dog food, cat food and treats under the Halo brand, which is focused on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet food and treats. For more information, please visit https://www.betterchoicecompany.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Company Contact:
Better Choice Company, Inc.
Kent Cunningham, CEO
Investor Contact:
KCSA Strategic Communications
Valter Pinto, Managing Director
T: 212-896-1254
Valter@KCSA.com
