Benzinga | Aug 17, 2021 12:05PM EDT

Better Choice Company Plans $2M Share Buyback Program

* Animal health and wellness firm Better Choice Company Inc's (NYSE:BTTR) board has authorized a stock repurchase program of up to $2 million of its outstanding common stock, valid until December 31, 2021.

* Better Choice will fund repurchases through cash on hand.

* "We believe the repurchase program is an excellent opportunity to buy our common shares at a significant discount to their intrinsic value," said chairman Michael Young.

* The company held $2.5 million in cash and equivalents as of June 30, 2021.

* Price Action: BTTR shares are trading lower by 1.73% at $3.40 on the last check Tuesday.