Better Choice Company to seel Halo Business for $8.1M

Better Choice Company (BTTR) announced it has signed a definitive agreement with its existing partner in Asia, CZC, to sell its Halo business in Asia for total gross proceeds of $8.1M including $6.5M in cash at closing, along with a 3% royalty on sales over the next five years, guaranteed by a minimum royalty payment of $330,000 per year or $1.65M in total. Pursuant to the terms of the transaction, Better Choice will retain ownership of its North American and rest-of-world ex-Asia operations. Both parties expect to close the sale in April.