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Chewy | FWP: Filing under Securities Act Rules 163/433 of free writing prospectuses

SEC ·  Sep 20 18:12

Summary by Moomoo AI

On September 19, 2024, Chewy, Inc., a leading online retailer for pet products, announced the pricing of an underwritten public offering of 16,666,667 shares of its Class A common stock at $30.00 per share by Buddy Chester Sub LLC, an affiliate of BC Partners and Chewy's largest shareholder. The Selling Stockholder also granted the underwriter a 30-day option to purchase up to an additional 2,500,000 shares. Chewy will not be selling any shares nor receiving proceeds from this offering. Concurrently, Chewy will repurchase $300 million of its Class A common stock from the Selling Stockholder at the same price paid by the underwriter. This repurchase was approved by a special committee of Chewy's Board of Directors and will be separate from the company's...Show More
On September 19, 2024, Chewy, Inc., a leading online retailer for pet products, announced the pricing of an underwritten public offering of 16,666,667 shares of its Class A common stock at $30.00 per share by Buddy Chester Sub LLC, an affiliate of BC Partners and Chewy's largest shareholder. The Selling Stockholder also granted the underwriter a 30-day option to purchase up to an additional 2,500,000 shares. Chewy will not be selling any shares nor receiving proceeds from this offering. Concurrently, Chewy will repurchase $300 million of its Class A common stock from the Selling Stockholder at the same price paid by the underwriter. This repurchase was approved by a special committee of Chewy's Board of Directors and will be separate from the company's existing $500 million share repurchase program. The Offering and Concurrent Repurchase, which are subject to customary closing conditions, are expected to close by September 23, 2024, with Morgan Stanley acting as the sole underwriter. Prior to these transactions, Chewy had approximately 143 million shares of Class A and 275 million shares of Class B common stock outstanding. Post transactions, assuming no additional shares are purchased by the underwriter, Chewy will have approximately 160 million shares of Class A and 248 million shares of Class B common stock. The Offering is not contingent on the Concurrent Repurchase, but the latter depends on the closing of the Offering.

This announcement is a separate document:

Doc 1

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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