- Better Choice Company Inc BTTR has priced 8 million shares of common stock at $5.0 per share in a secondary public offering.
- The offer price represents a discount of 32.25% to Monday's split-adjusted closing price of $7.38. The company went for a 1-for-6 reverse stock split after uplisting on NYSE.
- The gross proceeds to Better Choice from the offering are expected to be about $40.0 million.
- The underwriters have 30 days to procure additional shares up to 1.2 million.
- Better Choice plans to use the net proceeds of this offering for general corporate purposes and may also choose to use it to acquire complementary technologies, products, or businesses.
- D.A. Davidson & Co. is acting as the sole book-running manager for the offering.
- Price action: BTTR shares are trading lower by 39.02% at $4.50 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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