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 with annual revenues of $33.52 million, announced the overwhelming approval of its acquisition of SRx Health Solutions, Inc. by SRx’s shareholders, with about 93% voting in favor. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. The next step in the acquisition process is Better Choice’s own Special Meeting, set to take place via live webcast on March 21, 2025.
The company has confirmed that stockholders as of the record date, January 21, 2025, are eligible to vote at the Special Meeting. Those who have already voted do not need to take further action unless they wish to change their vote. Better Choice plans to file and mail an updated supplement to the Proxy Statement to provide shareholders with the latest information for an informed vote. The company’s stock has experienced significant volatility, with a 76% decline over the past year. (InvestingPro subscribers can access 15+ additional insights about BTTR’s market performance.)
Better Choice aims to lead the shift toward healthier pet products, leveraging its Halo brand to offer sustainably sourced and minimally processed pet foods. With a healthy current ratio of 2.38 and more cash than debt on its balance sheet, the company maintains strong liquidity positions. SRx Health operates as a Canadian healthcare service provider, specializing in Specialty Pharmacy, and has plans to expand its specialty pharmacy locations within Canada and eventually internationally.
The news of the acquisition comes as both companies focus on growth and expansion. SRx’s approach to patient care and its strategy to increase collaboration with pharmaceutical manufacturers and prescribers complement Better Choice’s commitment to pet health and wellness.
This strategic move is expected to broaden Better Choice’s reach in the pet health sector while providing a more integrated solution to healthcare services. The acquisition is part of a forward-looking plan by both entities to improve service delivery and accessibility in their respective industries.
The information in this article is based on a press release statement from Better Choice Company, Inc.
In other recent news, Better Choice Co Inc. announced the results of its annual stockholder meeting, as detailed in a recent 8-K filing with the Securities and Exchange Commission. The meeting resulted in the election of five directors: Lionel F. Conacher, Kent Cunningham, Gil Fronzaglia, John M. Word III, and Michael Young, all receiving a majority of votes. Additionally, stockholders ratified Marcum LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, with an overwhelming majority voting in favor. The advisory vote on the compensation of the company’s named executive officers was also approved, indicating general agreement with the executive compensation plan. These developments reflect the stockholders’ support for the current board’s leadership and financial oversight practices.
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