UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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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 13th 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 |
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