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Tag: BTTR Stock

  • Better Choice (BTTR) Sees After-Market Rally Following Strategic Announcement

    Better Choice (BTTR) Sees After-Market Rally Following Strategic Announcement

    The stock price of Better Choice Company Inc. (NYSE: BTTR) saw a significant uptick following the Wednesday closing of business. After hours trading saw a 7.62% increase in BTTR shares, bringing them to $2.26. Following a substantial loss of 17.32% during the regular session, when the stock ended at $2.10, there was a minor rebound. The company’s earlier-in-the-week strategy announcement is what caused the price to fluctuate.

    Better Choice Announced Acquisition of SRx Health

    Better Choice announced the signing of a formal agreement to buy SRx Health Solutions Inc. in a significant strategic move. The acquisition will be carried out as an all-stock deal with a $125 million estimated value. Leading supplier of cutting-edge healthcare solutions, SRx Health runs one of the biggest networks of specialty pharmacies in Canada.

    There are 40 specialist health and infusion clinics, two wholesale distribution facilities, four clinical trial sites, and 35 specialty pharmacy outlets in the network. Because of its wide network across Canada, SRx Health is among the most easily available specialist healthcare providers in the nation. SRx Health recorded C$161.5 million in sales and C$11.4 million in pro forma Adjusted EBITDA in 2023.

    Transformational Impact on BTTR

    Better Choice hopes to strengthen its standing as a preeminent international health and wellness business with this purchase. Under the Halo brand, the business will keep selling its current line of premium and ultra-premium pet supplies. Significant operational benefits from the transaction are anticipated, including enhanced distribution and infrastructure networks. With an estimated value of over $1.7 million, Better Choice intends to use these synergies to boost growth and enter new verticals and markets.

    Ownership Structure Post-Acquisition

    Under the terms of the agreement, SRx Health’s common stock will be converted into Better Choice common stock based on a 30-day volume-weighted average price, subject to an aggregate share collar. Upon completion of the acquisition, SRx Health security holders will own approximately 85% of the combined entity, while Better Choice security holders will retain 15%. Additionally, Better Choice will spin out 8% of its subsidiary, Halo, Purely For Pets, Inc., to its shareholders before the transaction’s effective time.

  • Better Choice Company Inc. (BTTR) Stock Gaining Momentum in aftermarket Despite Visible Reason

    Better Choice Company Inc. (BTTR) Stock Gaining Momentum in aftermarket Despite Visible Reason

    Better Choice Company Inc. (BTTR) is a leading pet wellness company making innovative products for dogs and cats. The company develops and markets dog and cat food including food from whole meat and raw-diet dog food.

    The price of BTTR stock during the regular trading on January 28, 2021, was $2.12 with a significant decrease of 9.40%. At last check in the aftermarket, the stock gained momentum by 8.96%.

    BTTR: Events and Happenings

    BTTR reported on January 24, 2022, that it rang the NYSE opening bell on the same date. On January 05, 2022, BTTR reported that the company’s Executives presented at the Virtual ICR Conference 2022 held on January 10-12, 2022.

    On December 22, 2021, BTTR reported about the reacquisition of supplementary $326,000 of its common stock at a price of $3.43 per share. In 2021, the company reacquired up to $1.6 million of outstanding shares of its common stock. On December 15, 2021, BTTR reported that its customers grabbed $2.6 million Halo products at the online shopping event Singles Day.

    On December 02, 2021, BTTR reported that the company’s Executives presented at the 10th Annual ROTH Deer Valley Corporate Access Event held on December 8-11, 2021.

    BTTR: Key Financials

    On November 10, 2021, BTTR reported its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows.

    Net Income/Loss per Share

    Net income in Q3 2021 was $8.4 million compared to a net loss of $29.5 million in the same period of 2020. Basic and diluted income per share in Q3 2021 was $0.48 and $0.34 respectively against a loss of $3.65 per share.

    Assets

    Total current assets recorded for the company in Q3 2021 were $47.9 million.

    On October 7, 2021, BTTR reported about its entry into a contract with 154 Agency to run its online marketing campaign.

    Conclusion

    BTTR stock downplayed 44% from the past six months period due to the worst pandemic crisis. The investors and shareholders are showing their interest in the company’s policies which resulted in the stock price surge. The current aftermarket stock showed positive signs due to uncertain reasons as there is no recent news to point for the activity.