Better Choice Company (NYSE American: BTTR), a leader in the pet health and wellness industry, has successfully closed a public offering, raising approximately $5 million in gross proceeds. This financial move is set to bolster the company's position in the competitive pet nutrition market, focusing on high-quality, health-conscious products for pets. The offering included 639,000 shares of common stock and prefunded warrants for an additional 1,028,000 shares, each priced at $3 per share, with ThinkEquity acting as the sole book-running manager.
The company has also secured a 45-day option for underwriters to purchase up to an additional 100,000 shares of common stock and/or prefunded warrants, further emphasizing the confidence in Better Choice Company's market strategy and growth potential. The proceeds from this offering are earmarked for general corporate purposes, including enhancing working capital, advancing sales and marketing efforts, and covering operating expenses. This strategic financial infusion is aimed at supporting the company's expansion and reinforcing its commitment to pet health and wellness.
Better Choice Company has distinguished itself in the pet nutrition sector with its Halo brand, which offers sustainably sourced kibble, canned food featuring real whole meat, and minimally processed raw-diet options. The company's dedication to quality and sustainability resonates with the growing trend of pet humanization, where owners seek holistic wellness options for their companion animals. By leveraging its digital platform, Better Choice Company continues to educate pet owners on the importance of nutrition and health, further solidifying its role as an innovator in the pet health and wellness industry.
For more information on Better Choice Company and its offerings, visit https://www.betterchoicecompany.com. This latest financial achievement underscores the company's commitment to growth and its ability to meet the evolving needs of pet owners, marking a significant milestone in its journey to redefine pet nutrition and wellness.
