---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-023574"
form_type: "8-K"
ticker: "SRXH"
cik: "0001471727"
company_name: "SRx Health Solutions, Inc."
filed_at: "2023-06-27T23:59:59+00:00"
generated_at: "2026-06-13T16:12:17.642472+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Better Choice enters $5M term loan at 10% with Alphia, grants warrants for ~14.8M shares

## Summary
- Alphia provides $5M term loan at 10% interest, maturing June 2026; proceeds used to retire Halo's existing credit facility with Wintrust.
- Lender receives warrants to purchase up to 14.8M shares at $0.26/sh; Second Tranche warrant subject to stockholder approval; anti-dilution provisions.
- Halo enters $4.75M ABL facility with Wintrust (accounts receivable purchase) at minimum 5.5% interest, for working capital.
- Loan secured by assets of Better Choice and Halo, including intellectual property; Alphia gets right of first refusal on change-of-control and board observer rights.
- New direct manufacturing relationship with Alphia expected to reduce manufacturing costs.

## SEC filing metadata
- accession: 0001628280-23-023574
- form_type: 8-K
- ticker: SRXH
- cik: 0001471727
- company_name: SRx Health Solutions, Inc.
- filed_at: 2023-06-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1471727/000162828023023574/0001628280-23-023574-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1471727/000162828023023574/bttr-20230621.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-023574
- JSON: https://secwatch.observer/filing/0001628280-23-023574.json
- Plain text: https://secwatch.observer/filing/0001628280-23-023574.txt

## Key facts
- Debt Financings
  SRx Health Solutions, Inc. incurred term loan of $5,000,000 with Alphia Inc. at 10% per annum, compounded quarterly maturing June 21, 2026.
  - Instrument: term loan
  - Principal: $5,000,000
  - Counterparty: Alphia Inc.
  - Rate: 10% per annum, compounded quarterly
  - Maturity: June 21, 2026
  - Event: incurrence
  source text: Pursuant to the Term Loan Agreement, Alphia made a term loan to the Company in the original principal amount of $5,000,000 (the “Term Loan”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1471727/000162828023023574/0001628280-23-023574-index.htm
- Debt Financings
  SRx Health Solutions, Inc. incurred credit facility of up to $4,750,000 with Wintrust Receivables Finance, a division of Wintrust Bank N.A. at a minimum rate of 5.5% maturing an initial term of two years.
  - Instrument: credit facility
  - Principal: up to $4,750,000
  - Counterparty: Wintrust Receivables Finance, a division of Wintrust Bank N.A.
  - Rate: a minimum rate of 5.5%
  - Maturity: an initial term of two years
  - Event: incurrence
  source text: Wintrust Facility On June 21, 2023, Halo entered into an account purchase agreement (the “AP Agreement”) with Wintrust Receivables Finance, a division of Wintrust Bank N.A. (“Wintrust”) pursuant to which Wintrust will purchase, at its discretion, up to eligible customer invoices and advance up to 75% of the face amount of all purchased invoices up to $4,750,000 (the “Wintrust Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1471727/000162828023023574/0001628280-23-023574-index.htm
- Material Agreements
  SRx Health Solutions, Inc. entered into AP Agreement with Wintrust Receivables Finance, a division of Wintrust Bank N.A. valued at up to $4,750,000 (effective 2023-06-21).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wintrust Receivables Finance, a division of Wintrust Bank N.A.
  - Value: up to $4,750,000
  - Effective: 2023-06-21
  source text: entered into an account purchase agreement (the “AP Agreement”) with Wintrust Receivables Finance, a division of Wintrust Bank N.A. (“Wintrust”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1471727/000162828023023574/0001628280-23-023574-index.htm
- Material Agreements
  SRx Health Solutions, Inc. entered into Term Loan Agreement with Alphia Inc. valued at $5,000,000 (effective 2023-06-21).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Alphia Inc.
  - Value: $5,000,000
  - Effective: 2023-06-21
  source text: (NYSE: BTTR) (the “Company”), a pet health and wellness company, entered into a term loan credit agreement (the “Term Loan Agreement”) with Alphia Inc. (“Alphia”), a leading custom manufacturer of super-premium pet food in the U.S.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1471727/000162828023023574/0001628280-23-023574-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.