The definition of theft is the taking of someone else's property with the intent to temporarily or permanently deprive them of the use of that property. While your husband may have intended to return the money, or provide the product, the fact is he hasn't done that. Unfortunately, he can most certainly be charged with theft based on these facts.
Does he have any chance of repayment or providing the product in the very near future? If so, it might be prudent to simply move forward as if nothing had happened and complete the transaction.
If not, then it would seem prudent to work things out with the company. I suspect what they want is either their money or the product, not to have him arrested. As such, they would be motivated to resolve the matter as well.
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