Chewy, Inc. (Chewy) has announced the offering of 16,666,667 shares of its Class A Common Stock at a public offering price of $30.00 per share. The selling securityholder, identified in the prospectus supplement, will be offering the shares, and Chewy will not receive any proceeds from the sale. The Class A Common Stock is listed on the New York Stock Exchange under the symbol 'CHWY.' The last reported sale price of the stock on the NYSE was $30.90 per share as of September 18, 2024. Concurrently, Chewy has agreed to a privately negotiated repurchase of $300 million of Class A Common Stock from the Selling Securityholder, which is expected to result in the repurchase of 10,204,081 shares. This repurchase transaction is separate from Chewy's existing $500 million...Show More

Chewy, Inc. (Chewy) has announced the offering of 16,666,667 shares of its Class A Common Stock at a public offering price of $30.00 per share. The selling securityholder, identified in the prospectus supplement, will be offering the shares, and Chewy will not receive any proceeds from the sale. The Class A Common Stock is listed on the New York Stock Exchange under the symbol 'CHWY.' The last reported sale price of the stock on the NYSE was $30.90 per share as of September 18, 2024. Concurrently, Chewy has agreed to a privately negotiated repurchase of $300 million of Class A Common Stock from the Selling Securityholder, which is expected to result in the repurchase of 10,204,081 shares. This repurchase transaction is separate from Chewy's existing $500 million share repurchase program and is conditioned upon the closing of the offering. The Selling Securityholder and its affiliates, known as the BCP Stockholder Parties, are currently the majority stockholders of Chewy. Upon completion of the offering and the Concurrent Repurchase, the BCP Stockholder Parties will retain approximately 60.7% of Chewy's total outstanding shares and about 93.9% of the combined voting power. The offering is not conditioned upon the closing of the Concurrent Repurchase, but the Concurrent Repurchase is conditioned upon the closing of the offering. The underwriter expects to deliver the shares on or about September 23, 2024.