Better Choice Company, Inc. (NYSE: BTTR) shares eked ahead in the first hour of treading on Friday. The pet health and wellness company announced that SRx Health Solutions, Inc. has signed a definitive agreement to convert $4 million in debt to equity, improving SRx Health working capital position and future cash flow. This strategic investment was made by a strategic distribution partner to invest in the Company’s mission to deliver innovative, sustainable, and integrated healthcare solutions to patients in North America.
This investment is pending the closing of the merger between SRx Health Solutions and Better Choice Company, which is scheduled for late-April. Upon closing, the combined companies will emerge as a leading global health and wellness company, delivering enhanced products and solutions for pets, people, and families.
Better Choice claims to be a rapidly growing pet health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier, and longer lives.
According to this morning’s news release, “We take an alternative, nutrition-based approach to pet health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness.”
BTTR shares nicked up nine cents, or 5.4%,to $1.75.