India, March 11 -- Better Choice Co. Inc. (BTTR) Tuesday announced that it has signed a binding Letter of Intent to acquire Choice Specialty Pharmacy Group, through an option purchase agreement.
BTTR shares are declining 8.25 percent at 1.50 on a volume of 73,467.
Choice Specialty Pharmacy is a fully licensed and provider of specialized pharmacy services in the U.S.
This acquisition is expected to strengthen Better Choice's specialty pharmacy presence in the U.S.
Better Choice, a pet health and wellness company said the purchase price is based on 6X of Seller's FY2024 Adjusted EBITDA of approximately $4.68 million, and consideration will be comprised of stock and cash at closing.
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