08:20 AM EDT, 07/08/2024 (MT Newswires) -- Better Choice ( BTTR ) said in a regulatory filing Monday that it is offering up to about 1.6 million common shares based on an assumed public offering price of $3.71 per share.

The company is also offering up to about 1.6 million pre-funded warrants to purchase up to about 1.6 million common shares. Each pre-funded warrant can immediately be exercisable for one common share at an exercise price of $0.01 per share.

Underwriters have been granted a 45-day option to purchase up to 246,000 additional common shares and/or pre-funded warrants.

The pet health and wellness company said it will use the net proceeds to repay certain outstanding debt, as well as for marketing investments, product development and innovation, distribution expansion, regulatory and other compliance-related costs, and for general corporate purposes.

Better Choice ( BTTR ) also said it may use the net proceeds to acquire complimentary technologies, products or businesses, or businesses or products not related to its current business or products.

Shares of Better Choice ( BTTR ) were up more than 1% in recent premarket activity.

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