Bullish indicating open at $55-$60, IPO prices at $37
TAMPA, Fla. - Better Choice Company, Inc. (NYSE American: BTTR), a pet health and wellness firm currently trading at $1.72 and identified as undervalued by InvestingPro analysts, has received court clearance to proceed with the acquisition of SRx Health Solutions, Inc., a Canadian healthcare service provider. The Ontario Superior Court of Justice granted the final order for the transaction under the Business Corporations Act. The company, with a market capitalization of $2.93 million, maintains a healthy balance sheet with more cash than debt.
The company will convene a Special Meeting on March 21, 2025, for shareholders to vote on the acquisition. The meeting will be conducted exclusively online. Shareholders on record as of January 21, 2025, are eligible to vote, and those who have already cast their votes do not need to take further action unless they choose to revoke their proxy as outlined in the Proxy Statement. This strategic move comes as the stock trades near its 52-week low of $1.58, significantly down from its high of $12.1.
Better Choice intends to distribute a supplement to the Proxy Statement to ensure that shareholders have ample time to review updated materials before casting their votes. The company’s primary offerings include the Halo brand of pet foods and treats, known for using sustainably sourced, real whole meat and minimally processed ingredients. According to InvestingPro, analysts forecast revenue growth of 4.18% for the current year, despite challenging market conditions.
SRx Health operates in the specialty pharmacy sector, providing integrated healthcare solutions from acute needs to chronic disease management. The company aims to expand its specialty pharmacy locations in Canada, with plans to grow from 34 to 100 sites and eventually extend services globally.
The acquisition is part of Better Choice’s strategic growth plan, which involves expanding its health and wellness offerings for pets. This move aligns with the company’s commitment to an alternative, nutrition-based approach to pet health, as well as the broader trend of pet humanization and consumer focus on health and wellness.
The information regarding the acquisition and the upcoming Special Meeting is based on a press release statement from Better Choice Company, Inc.
In other recent news, Better Choice Company announced the overwhelming approval of its acquisition of SRx Health Solutions, with 93% of SRx’s shareholders voting in favor. The next step involves Better Choice’s Special Meeting, where its shareholders will vote on the acquisition. This strategic move is expected to broaden Better Choice’s reach in the pet health sector and provide an integrated solution to healthcare services. Additionally, Better Choice disclosed the results of its annual stockholder meeting, with a 60.70% turnout. All five director nominees were elected, showing strong shareholder support. The company also ratified Marcum LLP as its independent auditor for the fiscal year ending December 31, 2024, with an overwhelming majority. Furthermore, the advisory vote on executive compensation was approved, indicating general agreement with the plan. These developments highlight the company’s ongoing strategic initiatives and shareholder confidence in its leadership.
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