Better Choice Company (NYSE American: BTTR), a pet health and wellness organization, has completed a public offering that generated approximately $5 million in gross proceeds. The offering consisted of 639,000 shares of common stock and prefunded warrants to purchase an additional 1,028,000 shares, with each share and warrant priced at $3.
The company plans to allocate the funds toward general corporate purposes, including working capital, sales and marketing initiatives, and operating expenses. ThinkEquity served as the sole book-running manager for the transaction.
This capital raise is significant for Better Choice Company, as it provides financial resources to support continued growth in the competitive pet health and wellness market. The funds will enable the company to expand its digital footprint and potentially enhance its product offerings under the Halo brand, which focuses on sustainably sourced and minimally processed pet nutrition.
The offering also included a 45-day option for underwriters to purchase up to an additional 100,000 shares of common stock and/or prefunded warrants at the public offering price, minus underwriting discounts.
By securing this funding, Better Choice Company positions itself to leverage growing market trends in pet humanization and increasing consumer focus on health and wellness for companion animals.
