Chewy Stock Slides As Investors Digest $500M Offering From Largest Shareholder
Chewy Stock Slides As Investors Digest $500M Offering From Largest Shareholder
In connection with the offering, Chewy agreed to purchase $50 million of its common stock at the same price paid by the underwriters in the offering. The repurchased shares will be retired upon completion. The concurrent repurchase was approved by a special committee of Chewy's board.Chewy Inc (NYSE:CHWY) shares are moving lower in Wednesday's after-hours session after the company announced a public offering by a selling stockholder and a concurrent share repurchase.
Chewy Inc (纽交所:CHWY) 的股票在周三的盘后交易中下跌，此前公司宣布了一名卖方股东的公开发行和一项同时进行的股份回购。
What Happened: After the market close on Wednesday, Chewy announced an underwritten public offering of $500 million of its common stock, being sold by Buddy Chester Sub LLC, an entity affiliated with funds advised by Chewy's largest shareholder BC Partners Advisors.
发生了什么：周三市场收盘后，Chewy宣布了一项价值50000万美元的承销公开发行，其普通股将由Chewy最大股东BC Partners Advisors所建议的资金关联的Buddy Chester Sub LLC出售。
The selling stockholder plans to grant the underwriters a 30-day option to purchase up to an additional $75 million of Chewy common stock. Chewy will not be selling any shares in the offering, and will not receive any proceeds.
卖方股东计划给予承销商30天的选择权，以购买额外7500万美元的Chewy普通股。Chewy不会在此次发行中出售任何股份，也不会获得任何收益。
In connection with the offering, Chewy agreed to purchase $50 million of its common stock at the same price paid by the underwriters in the offering. The repurchased shares will be retired upon completion. The concurrent repurchase was approved by a special committee of Chewy's board.
与此次发行相关，Chewy同意以承销商在发行中支付的同一价格购买5000万美元的自家普通股。回购的股份将在完成后注销。此次同时回购得到了Chewy董事会特别委员会的批准。
Chewy shares are up approximately 37% year-to-date. The rally in the pet retailer's stock accelerated over the summer after meme stock trader Keith Gill, also known as "Roaring Kitty," announced a stake in the company.
Chewy的股票今年迄今已上涨约37%。在宠物零售商的股票在夏季加速上涨，此后米姆股票交易者Keith Gill（也被称为“Roaring Kitty”）宣布对该公司的投资。
Gill sold his entire stake in Chewy a few months later. Chewy shares fell on the news, but the selloff was short-lived. Chewy had been Gill's only other publicly known investment outside of GameStop Corp (NYSE:GME), which has seen increased attention in recent months.
几个月后，Gill出售了他在Chewy的所有股份。消息传出时，Chewy的股票下跌，但此次抛售很快恢复。Chewy是Gill在游戏驿站CORP (纽交所:GME)之外唯一公开已知的投资，后者近几个月来受到更多关注。
GameStop and several other meme stocks popped last week after Gill posted an image of a TIME magazine cover featuring a blank computer screen and a video player paused at the 1:09 mark of a 4:20-long video. Chewy shares traded lower on the post.
上周，游戏驿站和其他一些米姆股票在Gill发布一张《时代》杂志封面图片之后上涨，封面显示了一台空白计算机屏幕和一台暂停在4:20长视频1:09时刻的视频播放器。Chewy的股票在此发帖后交易下跌。
Chewy reported mixed quarterly financials last week, beating on earnings but missing on revenue. The company guided for fourth-quarter revenue of $3.18 billion to $3.2 billion versus estimates of $3.17 billion.
上周，Chewy报告了混合的季度财报，盈余超出预期，但营业收入未达预期。公司预计第四季度的营业收入为31.8亿至32亿美元，而估计为31.7亿。
Following the print, Goldman Sachs lifted its price target to $40, RBC Capital raised its target to $42 and JPMorgan maintained an Overweight rating and moved its price target up to $38.
在发布数据后，高盛将其价格目标提高至40美元，RBC资本将其目标提高至42美元，摩根大通维持增持评级并将其价格目标上调至38美元。
CHWY Price Action: Chewy shares were down 2.92% in after-hours, trading at $31.59 at the time of publication Wednesday, according to Benzinga Pro.
CHWY价格动态：根据Benzinga Pro的数据，Chewy的股票在盘后交易中下跌2.92%，在周三发布时交易价格为31.59美元。
Photo: Courtesy of Chewy.
照片：来自Chewy。