Better Choice Company provides shareholder update on balance sheet

Better Choice Company provides shareholders with an update on its pro-forma and as-adjusted balance sheet. Michael Young, Better Choice Chairman of the Board, commented, “We are pleased to provide our shareholders with an update on our balance sheet, before the anticipated closing of our acquisition of SRx Health. Net of debt, Better Choice cash and other current assets as of June 30, 2024 was $3.94 per share. After the closing of our SRx acquisition, we believe there to be additional value to our shareholders.” As of June 30, 2024, on a pro-forma and as-adjusted basis, Better Choice had an adjusted net tangible book value of $10.9 million, or $4.07 per share. Additionally, pro-forma and as-adjusted net current asset value was $10.6 million, or $3.94 per share2. The pro-forma and as-adjusted values give effect to: the consummation of the Company’s registered public offering of its common stock and prefunded warrants as described in the Company’s prospectus filed with the SEC on July 31, 2024; and payment of $4.7 million of trade accounts payable at an approximate 56% discount pursuant to the previously announced settlement agreement entered into on June 20, 2024 with Alphia, Inc. As previously announced, Better Choice has entered into a definitive agreement to acquire SRx Health Solutions. The transaction has been approved by the Board of Directors of both companies. The closing of the transaction is subject to customary closing conditions, including the receipt of required stockholder approvals from SRx Health and Better Choice. The transaction is expected to close in the fourth quarter of 2024.