- Better Choice Company (BTTR, Financial) reinstates its stock repurchase program, increasing the authorization to $6.5 million.
- The previous $5 million buyback program repurchased 102,405 shares at an average of $1.9869 per share.
- The new program will be funded using cash on hand and will remain effective until December 31, 2025.
Better Choice Company, Inc. (BTTR), a leading entity in the pet health and wellness industry, has announced the reinstatement and expansion of its stock repurchase program with an increased authorization up to $6.5 million. This initiative will allow the company to purchase outstanding shares through market transactions or private deals in accordance with SEC Rule 10b-18.
Under the previous $5 million program, the company successfully repurchased 102,405 common shares at an average price of $1.9869 per share. The newly authorized program, effective through December 31, 2025, is a strategic move to capitalize on what the management perceives as undervaluation of their stock, currently trading around $1.87.
The timing and volume of share buybacks will be influenced by multiple factors including the stock's market availability, prevailing market conditions, and the company's financial performance. The program will be funded using the company's cash reserves, and while it provides an opportunity for enhancing shareholder value, it also underscores a significant allocation of capital within this small pet health enterprise.
Chairman Michael Young emphasized the management's confidence in company equity, suggesting a strategic belief in the long-term value of their stock. However, the real impact of this authorization will depend on the strategic execution of buybacks and the balance of capital deployment between buybacks and other growth investments essential for industry competitiveness.
Better Choice continues to focus on promoting healthier lifestyle products for pets, aligning with trends towards pet humanization and wellness. The company's commitment to sustainable and nutritional pet products remains a core element of its business model.
