Better Choice Company Shareholders Overwhelmingly Approve Acquisition of SRx Health Solutions and Related Proposals
Rhea-AI Summary
Better Choice Company (NYSE American: BTTR) shareholders have overwhelmingly approved key proposals at a special meeting held on March 21, 2025. The approved measures include: the issuance of up to 30 million shares of common stock for the acquisition of SRx Health Solutions, a change in company name to 'SRX Health Solutions, Inc.', and a ticker symbol change from 'BTTR' to 'SRXH'.
The meeting saw strong shareholder participation with 1,419,942 shares voted, representing 71.71% of total outstanding shares. The acquisition is positioned as a strategic move to transform Better Choice into a leading global health and wellness company, with closing expected in the coming weeks.
Positive
- High shareholder approval and participation rate (71.71%) indicates strong investor confidence
- Strategic acquisition positions company for expansion into global health and wellness market
Negative
- Significant shareholder dilution with issuance of up to 30 million new shares
News Market Reaction
On the day this news was published, BTTR gained 5.33%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TAMPA, Fla., March 21, 2025 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (NYSE American: BTTR) (“Better Choice” or the “Company”), a pet health and wellness company, is pleased to announce that the Company’s shareholders approved the following proposals (the “Proposals”) at the Company’s special meeting held today, March 21, 2025 (the “Meeting”):
- To authorize the issuance of up to 30,000,000 shares of Better Choice common stock in connection with a proposed arrangement (the “Arrangement”) with SRx Health Solutions, Inc., a corporation organized under the laws of the Province of Ontario (“SRx”), pursuant to which Better Choice will acquire SRx.
- To authorize the changing of the legal name of Better Choice from “Better Choice Company, Inc.” to “SRX Health Solutions, Inc.” and of the NYSE American ticker symbol from “BTTR” to “SRXH”.
- To authorize an increase in the number of securities subject to the Company’s 2019 Incentive Award Plan.
Each of the Proposals are more fully described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission (“SEC”) on January 28, 2025, as supplement by the Company’s Supplemental Proxy Materials filed with the SEC on March 7, 2025.
The preliminary results of the Meeting reflect that a total of 1,419,942 shares of common stock were voted, representing
Michael Young, Chairman of Better Choice Company, commented, “We want to thank our shareholders for their support of our acquisition of SRx Health, a transformative opportunity to position Better Choice as a leading global health and wellness company. We look forward to closing on the transaction in the coming weeks.”
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 the majority of our 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, 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
FAQ
How many shares did Better Choice Company (BTTR) approve for the SRx Health Solutions acquisition?
What will be Better Choice Company's (BTTR) new name and ticker symbol after the acquisition?
What was the shareholder participation rate for BTTR's special meeting on March 21, 2025?
When is the BTTR-SRx Health Solutions acquisition expected to close?
