Better Choice Co Inc. Stock Price, News & Analysis

Better Choice Company (NYSE: BTTR) has announced an agreement in principle with CZC Company for a 5.5% royalty on all Halo Elevate® brand sales in Asia. The agreement grants CZC the rights to market and sell up to 13 SKUs of Halo Elevate® formulas, which are new to the Asian market.

Under the terms, CZC will directly order and pay for products from Better Choice's U.S. manufacturer, with the royalty fee being payable upon shipment. The company's Chairman, Michael Young, emphasized Halo's global recognition in pet health and nutrition, indicating plans to explore additional licensing opportunities worldwide.

Better Choice Company (NYSE: BTTR) has announced the adjournment of its special meeting to March 21, 2025, without conducting any business. The meeting was adjourned to allow SRx Health Solutions to pursue its shareholder vote and obtain final court approval for the arrangement transaction. The adjournment also provides time to update shareholders about corporate actions needed for NYSE American listing compliance.

At the time of adjournment, approximately 71% of BTTR's outstanding shares had submitted proxies, constituting a quorum with sufficient votes to approve all proposals, including the SRx arrangement transaction. The company plans to file and mail a supplementary proxy statement to ensure shareholders can make informed decisions. The record date remains January 21, 2025, and previously submitted proxies will remain valid unless properly revoked.

Better Choice Company (NYSE: BTTR) has announced a definitive agreement to sell its Halo business in Asia to CZC Company for $8.1 million in total gross proceeds. The deal structure includes $6.5 million in cash at closing and a 3% royalty on sales over the next five years, with a guaranteed minimum royalty payment of $330,000 per year ($1.65 million total). Better Choice will maintain ownership of its North American and rest-of-world ex-Asia operations. The transaction is expected to close in April 2025.

Better Choice Company (NYSE: BTTR) has signed a non-binding term sheet to sell its Halo business in Asia to CZC Company for $6.5 million in cash at closing, plus a 3% royalty on sales over five years with a guaranteed minimum of $330,000 annually ($1.65 million total).

The buyer has already paid a $500,000 non-refundable deposit, and both parties have exchanged the first draft of the definitive agreement. Better Choice will retain ownership of its North American and rest-of-world operations, with the transaction expected to close in Q1 2025. The company views this sale as a strategic move to strengthen its balance sheet and focus on growing its operations outside Asia.

Better Choice Company (NYSE: BTTR) has repurchased 102,405 shares at an average price of $1.9869 per share under its authorized $5 million stock repurchase program, which runs until December 31, 2024. Chairman Michael Young emphasized that the company's shares are trading significantly below Net Tangible Book Value, expressing confidence in the business's strength and growth prospects.

The repurchases can be made through open market or private transactions, following SEC Rule 10b-18 requirements. The timing and volume of repurchases will depend on stock availability, market conditions, trading price, capital alternatives, and company performance. The program, funded by cash on hand, may be modified, suspended, or discontinued at any time.

Better Choice Company (NYSE: BTTR) has announced an increase in the capital stock distribution of Halo, Purely for Pets, from 8% to 17% dividend as part of its acquisition of SRx Health Solutions. The transaction, which is expected to close in Q1 2025, remains subject to customary closing conditions, including required shareholder approvals from both companies.

Better Choice Company reported strong Q3 2024 results with significant growth across key metrics. Revenue increased 33% quarter-over-quarter to $11.4 million, while gross margin improved 591 basis points year-over-year to 40%. The company achieved net income of $1.5 million, marking a 194% increase year-over-year, with EPS growing 132% to $0.73. Notable achievements include a $2.6 million gain on debt extinguishment and Adjusted EBITDA growth of 255% to $0.2 million. The company saw double-digit growth in Digital customers and 9% growth in International channels, particularly in the Asia-Pacific region. This marks the company's first profitable quarter in over four years.

Better Choice Company (NYSE: BTTR), a pet health and wellness company, has announced its participation in the upcoming Sidoti Micro Cap 2024 Virtual Conference. The company's management will present on Wednesday, November 13, 2024, at 10:00 a.m. ET. The presentation will be accessible via webcast, and management will be available for one-on-one meetings throughout the conference. Interested parties can schedule meetings through their Sidoti representative or by contacting KCSA directly.

Better Choice Company (NYSE: BTTR) announced it will host a conference call and webcast on Tuesday, November 12, 2024, at 4:30 p.m. ET to discuss its third quarter 2024 financial results and provide a business update. The live call will be accessible via 1-888-348-8935 or 1-412-317-0454. A webcast replay will be available for 90 days on the company's website under the 'Events & Presentations' section.