Better Choice Company Secures $5 Million in Public Offering to Advance Pet Health Initiatives

Better Choice Company (NYSE American: BTTR), a prominent pet health and wellness organization, has concluded a public offering that generated approximately $5 million in gross proceeds. The offering comprised 639,000 shares of common stock and prefunded warrants to purchase an additional 1,028,000 shares, each priced at $3 per share.

The financial transaction represents a strategic move for the company to bolster its operational capabilities and expand its market presence in the competitive pet health industry. By securing these funds, Better Choice Company aims to enhance its working capital, invest in sales and marketing efforts, and cover ongoing operating expenses.

ThinkEquity served as the sole book-running manager for the offering, facilitating the transaction. The company also received a 45-day option allowing underwriters to potentially purchase up to an additional 100,000 shares of common stock or prefunded warrants at the public offering price, minus underwriting discounts.

Better Choice Company has positioned itself as a leader in pet nutrition by focusing on innovative, health-conscious products that align with growing consumer trends of pet humanization and wellness. The company's portfolio, primarily featuring the Halo brand, emphasizes sustainably sourced, minimally processed pet food and treats derived from whole meat.

This public offering provides Better Choice Company with financial resources to potentially accelerate product development, expand market reach, and continue its mission of helping pets live healthier, longer lives. The funding could enable further research, product innovation, and strategic marketing initiatives in the evolving pet health and wellness sector.