Better Choice Co Inc. Signs Material Definitive Agreement
Ticker: SRXH · Form: 8-K · Filed: Jun 21, 2024 · CIK: 1471727
Sentiment: neutral
Topics: material-agreement, corporate-action
TL;DR
BCII inked a big deal, filing shows. Details to come.
AI Summary
Better Choice Co Inc. entered into a material definitive agreement on June 20, 2024. The company, formerly known as Sport Endurance, Inc., is incorporated in Delaware and headquartered in Tampa, Florida.
Why It Matters
This filing indicates a significant new agreement for Better Choice Co Inc., which could impact its business operations and financial future.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.
Key Numbers
- 001-40477 — Commission File Number (Identifies the company's SEC filing history)
- 83-4284557 — IRS Employer Identification No. (Company's tax identification number)
Key Players & Entities
- Better Choice Co Inc. (company) — Registrant
- Sport Endurance, Inc. (company) — Former company name
- June 20, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- Tampa, Florida (location) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement entered into by Better Choice Co Inc.?
The filing states that Better Choice Co Inc. entered into a material definitive agreement on June 20, 2024, but the specific details of the agreement are not provided in this excerpt.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on June 20, 2024.
What was Better Choice Co Inc. formerly known as?
Better Choice Co Inc. was formerly known as Sport Endurance, Inc.
In which state is Better Choice Co Inc. incorporated?
Better Choice Co Inc. is incorporated in Delaware.
What is the principal executive office address for Better Choice Co Inc.?
The principal executive offices of Better Choice Co Inc. are located at 12400 Race Track Road, Tampa, Florida 33626.
Filing Stats: 516 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-06-21 07:37:20
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value share BTTR NYSE American
- $5.0 million — ompany's senior secured debt, including $5.0 million in principal and $0.4 million of payabl
- $0.4 million — including $5.0 million in principal and $0.4 million of payable-in-kind accrued interest as
- $11.44 — 335,640 warrants with a strike price of $11.44 per share that were set to expire in 20
- $2.7 million — dness by the Company with savings up to $2.7 million if paid within 90 days. Item 9.01 Fin
Filing Documents
- form8-k.htm (8-K) — 46KB
- ex10-1.htm (EX-10.1) — 13KB
- ex99-1.htm (EX-99.1) — 2KB
- ex10-1_001.jpg (GRAPHIC) — 458KB
- ex10-1_002.jpg (GRAPHIC) — 523KB
- ex10-1_003.jpg (GRAPHIC) — 496KB
- ex10-1_004.jpg (GRAPHIC) — 504KB
- ex10-1_005.jpg (GRAPHIC) — 352KB
- ex10-1_006.jpg (GRAPHIC) — 367KB
- ex10-1_007.jpg (GRAPHIC) — 431KB
- ex10-1_008.jpg (GRAPHIC) — 170KB
- ex10-1_009.jpg (GRAPHIC) — 124KB
- ex10-1_010.jpg (GRAPHIC) — 30KB
- ex10-1_011.jpg (GRAPHIC) — 194KB
- ex10-1_012.jpg (GRAPHIC) — 168KB
- ex10-1_013.jpg (GRAPHIC) — 196KB
- ex10-1_014.jpg (GRAPHIC) — 42KB
- ex10-1_015.jpg (GRAPHIC) — 19KB
- ex10-1_016.jpg (GRAPHIC) — 486KB
- ex10-1_017.jpg (GRAPHIC) — 33KB
- ex99-1_001.jpg (GRAPHIC) — 433KB
- ex99-1_002.jpg (GRAPHIC) — 128KB
- 0001493152-24-024626.txt ( ) — 7331KB
- bttr-20240620.xsd (EX-101.SCH) — 3KB
- bttr-20240620_lab.xml (EX-101.LAB) — 33KB
- bttr-20240620_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): June 20, 2024 Better Choice Company, Inc. (Exact name of Registrant as Specified in its Charter) Delaware 001-40477 83-4284557 (State or other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 12400 Race Track Road Tampa , Florida 33626 (Address of Principal Executive Offices) (Zip Code) (Registrant's Telephone Number, Including Area Code): (212) 896-1254 N/A (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value share BTTR NYSE American Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 1.01 Entry into a Material Definitive Agreement On June 20, 2024, Better Choice Company, Inc., a Delaware corporation, (the "Company") agreed to settlement terms of the lawsuit initially filed against Alphia, Inc. ("Alphia") on March 26, 2024, in the Circuit Court of the 13 th Judicial Circuit in and for Hillsborough County, Florida. The agreement, which dismisses the Company's ongoing litigation with Alphia, provides for the retirement of the Company's senior secured debt, including $5.0 million in principal and $0.4 million of payable-in-kind accrued interest as of March 31, 2024, the retirement of 335,640 warrants with a strike price of $11.44 per share that were set to expire in 2028, and the elimination of approximately $5.0 million of other indebtedness by the Company with savings up to $2.7 million if paid within 90 days. Item 9.01 Financial Statements and Exhibits (d) Exhibits. 10.1 Alphia Settlement Agreement dated June 20, 2024 99.1 Press Release regarding Debt Retirement dated June 20, 2024 104 Cover Page Interactive Data file (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Better Choice Company Inc. By: /s/ Carolina Martinez Name: Carolina Martinez Title: Chief Financial Officer June 20, 2024