Welcome to our dedicated page for Better Choice Co news (Ticker: BTTR), a resource for investors and traders seeking the latest updates and insights on Better Choice Co stock.
The BTTR news page on Stock Titan provides an archive of news releases and corporate updates for Better Choice Company Inc., which historically traded under the BTTR ticker on the NYSE American. These news items document the company’s activities as a pet health and wellness business and its subsequent transformation through a business combination and name and ticker change.
Readers can review announcements describing Better Choice’s focus on pet health and wellness products designed to help dogs and cats live healthier, happier and longer lives. The company has highlighted its alternative, nutrition-based approach to pet health, its emphasis on the Halo brand for dog food, cat food and treats, and its efforts to align with trends in pet humanization and health and wellness. News releases also discuss transactions such as the sale of Halo’s business in Asia while retaining key North American operations and global operations outside of Asia.
A key theme in the BTTR news archive is the corporate evolution of Better Choice Company Inc. through its business combination with SRx Health Solutions, Inc. and the resulting name and ticker change to SRx Health Solutions Inc. and SRXH. News items describe the closing of this business combination, the related private placement, the spin-out distribution involving Halo Spin-Out SPV Inc., and the effective date for trading under the new SRXH symbol on the NYSE American.
Investors and researchers can use this BTTR news history to understand how Better Choice presented its pet health and wellness strategy, brand portfolio and capital markets actions leading up to and including the transition to SRx Health Solutions Inc. For current developments, company communications direct attention to the SRXH ticker, while the BTTR news archive remains a resource for historical context.
Better Choice Company (NYSE: BTTR) is progressing towards acquiring SRx Health Solutions Inc. for approximately $125 million in an all-stock transaction. The combined entity aims to become a leading global health and wellness company, providing solutions for pets, people, and families. Key points:
1. Expected 2025 combined revenue: +$270 million
2. Expected 2025 combined EBITDA: +$10 million
3. Better Choice net tangible book value: $4.07 per share
4. Better Choice net current asset value: $3.94 per share
5. Transaction closing: Late Q4 2024 or early Q1 2025
The merger is projected to generate significant cash flow, operational efficiencies, and cost savings. Better Choice's Halo brand achieved $49 million in gross sales in 2023, while SRx Health generated CAD$180 million in revenue with positive adjusted EBITDA in 2023.
Better Choice Company (NYSE: BTTR) is progressing towards acquiring SRx Health Solutions Inc. for approximately $125 million in an all-stock transaction. The combined entity aims to become a leading global health and wellness company, providing solutions for pets, people, and families. Key highlights include:
- Expected 2025 combined revenue of $270+ million and EBITDA of $10+ million
- Better Choice's net tangible book value at $4.07 per share
- Transaction expected to close in late Q4 2024 or early Q1 2025
- Better Choice's Halo brand achieved $49 million in gross sales for 2023
- SRx Health generated CAD$180 million in revenue with positive adjusted EBITDA in 2023
- Combined trailing twelve-month revenue of $235 million, growing 25% quarter-over-quarter
- Anticipated annual cost savings of $1.7 million post-integration
- Plans to expand into veterinary medicine with Better Pet Rx initiative in 2025
Better Choice Company (NYSE: BTTR) has announced plans to expand into veterinary medicine in 2025 following the acquisition of SRx Health. The new initiative, named Better Pet Rx, will focus on providing care for pets. This expansion aligns with Better Choice's vision of becoming a leading global health and wellness company for both humans and pets.
The acquisition of SRx Health will allow Better Choice to leverage their expertise, existing relationships with pharmaceutical companies, and infrastructure to complement its Halo portfolio of premium pet food products. The company sees animal pharmaceuticals as a key growth area within the pet care industry.
Better Choice will provide more details about the transaction during a Shareholder Update Call scheduled for October 15th at 4:30 PM Eastern Time.
Better Choice Company (NYSE: BTTR) and SRx Health Solutions Inc. will host a shareholder update call on October 15, 2024 at 4:30 PM EST. The call will provide updates on Better Choice's acquisition of SRx Health, announced in early September 2024. The all-stock transaction, valued at approximately $125 million, will bring SRx Health's extensive Canadian specialty pharmacy network under Better Choice's umbrella.
SRx Health operates 35 specialty pharmacy locations, 40 specialty health/infusion clinics, 4 clinical trial sites, and 2 wholesale distribution facilities across Canada. In 2023, SRx Health generated CAD$161.5 million in revenue, with a projected increase of over 20% to CAD$200 million for the fiscal year ending September 30, 2024. Management expects similar growth for fiscal year 2025.
The shareholder call will provide the investment community with transaction details, which is expected to close in the coming months.
Better Choice Company (NYSE: BTTR) announced its participation in the Sidoti Virtual Conference on November 13-14, 2024, where it will provide an update on its ongoing acquisition of SRx Health. SRx Health's revenue for the fiscal year ending September 30, 2024, is expected to increase over 20% year-over-year to over CAD$200 million. The company anticipates similar revenue growth for fiscal 2025.
Michael Young, Chairman of Better Choice, expressed satisfaction with SRx Health's preliminary revenue growth and noted the robust pipeline heading into fiscal 2025. He highlighted the substantial investor appetite for stable, growing, and predictable businesses in the healthcare space. The acquisition of SRx Health remains on track, with Better Choice looking forward to closing the transaction in the coming months.
Better Choice Company (NYSE: BTTR), a pet health and wellness company, announced its participation in the 2024 ThinkEquity Conference on October 30th at the Mandarin Oriental Hotel in New York City. The company will provide updates on its international sales performance and the ongoing acquisition of SRx Health.
Key highlights include:
- Continued sales growth in China, with a 37% sequential increase in Q2 2024 compared to Q1 2024
- International sales account for approximately 28% of Better Choice's total revenue
- China remains a key market for expansion, with the Halo brand gaining recognition and winning industry awards
- The SRx Health acquisition is progressing as planned
Better Choice Company (NYSE American: BTTR) announced that board members and senior management of SRx Health Solutions Inc. have purchased 10,000 shares of Better Choice common stock in the open market. Additionally, Better Choice has activated its share repurchase program and has been buying shares amid market volatility.
Adesh Vora, SRx Health Founder and CEO, stated that they believe Better Choice is undervalued and their investment demonstrates confidence in the combined businesses, growth prospects, operational excellence, and strong cash flow. The company is committed to enhancing shareholder value and will continue to be opportunistic with share repurchases.
Better Choice Company (NYSE: BTTR) is the subject of an inquiry by Monteverde & Associates PC, a class action firm, relating to its proposed merger with SRx Health Solutions.
Under the merger terms, BTTR shareholders are expected to own approximately 15% of the combined company. The firm states it is investigating the transaction and offers a no‑cost review for shareholders dated Sept. 11, 2024.
Better Choice Company (NYSE American: BTTR) has provided shareholders with an update on its pro-forma and as-adjusted balance sheet. The company reported a 6% increase in Pro Forma Adjusted Net Tangible Book Value Per Share (NTBVPS) to $4.07 and a 16% increase in Pro Forma Adjusted Net Current Asset Value Per Share (NCAVPS) to $3.94. These figures are based on the company's financial position as of June 30, 2024, and take into account the recent public offering and a settlement agreement with Alphia, Inc.
The company also highlighted its pending acquisition of SRx Health Solutions Inc., which is expected to close in Q4 2024, subject to stockholder approvals and other customary conditions. Better Choice's Chairman, Michael Young, expressed optimism about the potential additional value this acquisition could bring to shareholders.
Better Choice Company (NYSE American: BTTR) has signed a definitive agreement to acquire SRx Health Solutions Inc. for approximately $125 million in an all-stock transaction. This acquisition will transform Better Choice into a leading global health and wellness company, combining its pet products with SRx Health's specialty pharmacy network in Canada. Key highlights include:
- Combined company net revenue of ~$95 million for H1 2024
- Projected 2025 revenue of $270+ million and EBITDA of $10+ million
- SRx Health's 2023 performance: C$161.5 million revenue and C$11.4 million pro forma Adjusted EBITDA
- Post-acquisition ownership: SRx 75%+, Better Choice shareholders 15%
- 8% dividend of Halo, Purely For Pets, Inc. stock to Better Choice shareholders