India, Feb. 19 -- Better Choice Co., Inc. (BTTR), a pet health and wellness company, Wednesday announced that it has signed a definitive agreement with its existing partner in Asia, CZC Company Ltd., to sell its Halo business for total gross proceeds of $8.1 million.
Shares of Better Choice are increasing by 5% in the pre-market trading.
The deal included a $6.5 million cash payment at closing and a 3 percent royalty on sales for five years, with a guaranteed minimum payment of $330,000 per year or $1.65 million in total.
The deal is expected to close by April 2025.
In the pre-market trading, Better Choice is 4.63% higher at $2.26 on the New York Stock Exchange.
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