Better Choice Company Boosts Stock Buyback Program to $6.5 Million
Better Choice Company Restarts Stock Repurchase Initiative
Better Choice Company, Inc. (NYSE American: BTTR), a leader in pet health and wellness, has exciting news for its shareholders. The company’s Board of Directors has officially reinstated its stock repurchase program and raised the total authorization to $6.5 million for acquiring outstanding shares. This program is designed to last until December 31, 2025, making it a significant move in today’s dynamic market.
Details of the Repurchase Program
Previously, under a $5 million stock repurchase initiative that concluded at the end of 2024, Better Choice was successful in repurchasing 102,405 common shares. The average price per share was approximately $1.9869. This strategic buyback not only reflects confidence but also aims to enhance shareholder value significantly.
CEO's Insights on the Decision
Michael Young, the Chairman of Better Choice, expressed his enthusiasm regarding the decision to reinstate and expand the repurchase program. He noted, “After completing our previous stock repurchase initiative, we believe it is prudent to enhance our program to $6.5 million as we feel our stock is undervalued.” His comments shed light on the company’s optimistic outlook regarding its stock's performance.
How the Repurchase Will Work
The structure of the repurchase will allow shares to be bought back from the open market or through private transactions. The timing and amount of repurchases will depend on various factors such as market conditions, trading prices, and the financial performance of the company. Better Choice plans to execute these purchases in alignment with Rule 10b-18 of the SEC, ensuring compliance with all regulations.
Financial Strategy Behind the Repurchase
It's important to note that although the program is reinstated, the company is not obligated to buy back a specific number of shares within any set timeframe. Additionally, restructuring or suspension of the repurchase plan could occur based on future assessments. Funding for this repurchase will be sourced from the company’s cash reserves, maintaining a healthy balance sheet.
About Better Choice Company Inc.
At the heart of Better Choice Company is a steadfast commitment to enhancing the lives of pets through quality nutrition. This growing pet health and wellness firm adopts a distinctive approach to pet care, contrasting conventional dog and cat food options. The company’s portfolio aligns with current consumer trends that emphasize pet humanization and a heightened focus on well-being. They cater to pet owners by providing informative resources, contributing to informed decision-making regarding their pets' health.
Trusted Brands Under Their Portfolio
Better Choice's offerings include high-quality dog and cat food, as well as treats marketed under the Halo brand, which emphasizes sustainably sourced ingredients. Their focus on real, whole meat and minimally processed diets ensures that pets can thrive on nutritious food that boosts their health.
Looking Ahead
Better Choice Company is on a forward trajectory, leveraging its established market position to adapt to the growing demands of pet owners. As the pet industry continues to evolve, so does the company, positioning itself conveniently to capitalize on emerging trends in health and wellness.
Frequently Asked Questions
What is the purpose of the stock repurchase program?
The stock repurchase program aims to enhance shareholder value and demonstrate confidence in the company's equity.
How much has Better Choice Company authorized for share repurchase?
The company has authorized up to $6.5 million for its stock repurchase program.
What factors influence the timing of the stock repurchases?
Market conditions, stock trading prices, and the company's financial performance will influence repurchase timing.
Who is the CEO of Better Choice Company?
Kent Cunningham serves as the CEO of Better Choice Company.
What brands does Better Choice Company offer?
Better Choice offers pet food and treats under the Halo brand, focusing on sustainably sourced and nutritious products.
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