Better Choice Company (NYSE American: BTTR) has completed a public offering of 639,000 shares of common stock and prefunded warrants, raising approximately $5 million in gross proceeds. The offering, priced at $3 per share and prefunded warrant, represents a strategic financial move for the pet health and wellness company.
The capital raise provides Better Choice Company with critical resources to advance its mission of developing innovative, nutrition-based pet health products. The company plans to allocate the funds toward general corporate purposes, including working capital, sales and marketing efforts, and operational expenses.
Investors demonstrated confidence in the company's growth potential through this offering, which included an additional 45-day option for underwriters to purchase up to 100,000 additional shares or prefunded warrants. ThinkEquity served as the sole book-running manager for the transaction.
Better Choice Company has positioned itself as a leader in the evolving pet health market, focusing on products that support dogs and cats living healthier and longer lives. The company's portfolio, predominantly under the Halo brand, emphasizes sustainably sourced, minimally processed nutrition derived from whole meat ingredients.
The public offering signals the company's commitment to expanding its digital footprint and providing pet owners with comprehensive nutritional options. As the pet care industry continues to experience significant growth, driven by increasing pet humanization trends, Better Choice Company's strategic funding approach could enable further innovation and market expansion.
