Better Choice Company Raises $5 Million in Public Offering
TL;DR
Investors gained advantage with Better Choice Company's public offering of common stock and prefunded warrants, resulting in $5 million gross proceeds.
Better Choice Company closed a public offering, selling 639,000 common stock shares and prefunded warrants to purchase 1,028,000 shares at $3 each.
Better Choice Company aims to improve pet health and wellness with proceeds for general corporate purposes, supporting working capital, sales, and marketing.
Better Choice Company offers sustainably sourced pet food under the Halo brand, focusing on pet health and well-being with an alternative nutrition-based approach.
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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.
Curated from InvestorBrandNetwork (IBN)
