Lionel F. Conacher, a director at Better Choice Co Inc. (NYSE:BTTR), recently reported a series of transactions involving the company's common stock. According to a filing with the Securities and Exchange Commission, Conacher sold 635 shares on December 23, 2024, at a price of $1.71 per share, amounting to a total of $1,085. The stock currently trades at $2.40, showing an impressive 18% gain over the past week despite an 81% decline year-to-date. InvestingPro analysis indicates the stock is currently trading below its Fair Value.
In addition to the recent sale, Conacher made several purchases earlier in the year. On November 20, 2024, he acquired 5,000 shares at $1.71 each, and on February 1, 2024, he purchased 8,418 shares at a price of $11.88 per share. Another significant acquisition occurred on September 5, 2023, when Conacher bought 17,045 shares at $6.97 per share. These purchases were part of the company's Amended and Restated 2019 Incentive Plan, which involved no vesting conditions. According to InvestingPro, the company trades at a low Price/Book multiple of 0.43, suggesting potential value opportunity. Subscribers can access 14 additional ProTips and comprehensive insider trading analysis.
The total value of Conacher's acquisitions throughout the year amounted to approximately $227,359, with purchase prices ranging from $1.71 to $11.88 per share.
In other recent news, Better Choice Co Inc. has disclosed the outcomes of its annual stockholder meeting. The shareholders elected five directors to the board and ratified the appointment of Marcum LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024. The company is also set to acquire SRx Health Solutions Inc. in an all-stock transaction valued at approximately $125 million, with the combined entity expected to generate over $270 million in revenue and over $10 million in EBITDA by 2025.
In addition, Better Choice is expanding into veterinary medicine with its upcoming venture, Better Pet Rx, set to launch in 2025. The company has also formed a special committee to explore potential mergers and acquisitions, asset monetization opportunities, and joint ventures. Furthermore, the company successfully completed an additional sale of shares, amassing approximately $5.3 million in gross proceeds.
These recent developments highlight Better Choice's strategic moves to grow its health and wellness offerings and strengthen its financial position. It's important to note that these are the latest updates and may be subject to change based on the company's decisions and market conditions.
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