Better Choice Company, Inc. (NYSE: BTTR), a pet health and wellness company, today announced the closing of its business combination with SRx Health Solutions, Inc. and the closing of an $8.8-million private placement with an institutional investor, for the purchase and sale of a combination of 4,036,697 shares of common stock and pre-funded warrants at a price of $2.18 per share for aggregate gross proceeds of $8.8 million, before deducting offering expenses.
Better Choice will issue 28.6 million shares of common stock in connection with the closing of the business combination with SRx Health, pursuant to which the combined company will emerge as a leading global health and wellness company by providing better products and solutions for pets, people, and families. Additionally, Better Choice will change its legal name to “SRx Health Solutions Inc.” and ticker symbol from “BTTR” to “SRXH”, effective Wednesday, April 30.
Chairman Michael Young commented, “We want to thank our existing shareholders, the NYSE, and our new shareholders at SRX. This is a transformative opportunity that positions Better Choice as a leading global health and wellness company. We look forward to sharing updates with our shareholders in the future.”
BTTR shares faded 18 cents, or 8.6% to $1.92.