Better Choice Company (NYSE: BTTR), a pet health and wellness company, repurchased $326,000 of its Common stock at $3.43 per share as part of its stock repurchase program on December 22, 2021. Prior to the program’s ending on December 31, 2021, Better Choice had already repurchased a total of $1.6 million of outstanding shares.
The shares could be repurchased through both private and open market transactions, so long as they complied with SEC regulations. The timing and amount of repurchases were determined by market conditions and company financials, but there was no requirement for the number of shares to be purchased by the company within a specific time. The company used cash on hand for all repurchases.
“We continue to believe our Company to be undervalued and view the repurchase of our shares as a prudent allocation of capital for our shareholders,” said Better Choice Chairman Michael Young. Young also expressed the company’s repurchasing as “an additional vote of confidence from the Board and management” as Better Choice continues its endeavors toward becoming the leading brand in the industry.
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