Better Choice Company, which makes premium pet food under the Halo and TruDog brands, raised $40 million by offering 8 million shares at $5, below the as-converted last close of its shares on the OTCQX (BTTR). The company offered 3.5 million more shares than anticipated.
Better Choice is an omni-channel supplier of premium pet food products under the Halo and TruDog brands. The company sells its products through e-commerce platforms like Chewy and Amazon, brick and mortar outlets like Petco and PetSmart, direct to consumer through its own website, and internationally. The company believes it will continue to benefit from the humanization of pets and increased consumer focus on health and wellness.
Better Choice Company plans to list on the NYSE American under the symbol BTTR. D.A. Davidson acted as sole bookrunner on the deal.
