DANIA BEACH, Fla., June 13, 2019
/PRNewswire/ -- Chewy, Inc. today announced the pricing of the
initial public offering of 46,500,000 shares of its Class A common
stock at a price to the public of $22.00 per share. The offering consists of
5,600,000 shares of Class A common stock being sold by Chewy and
40,900,000 shares of Class A common stock being sold by a
wholly-owned subsidiary of PetSmart, Inc. (the "Selling
Stockholder"). In addition, the Selling Stockholder granted the
underwriters a 30-day option to purchase up to 6,975,000 additional
shares of Class A common stock at the public offering price, less
underwriting discounts and commissions. Chewy will not receive any
proceeds from any sale of shares by the Selling Stockholder. The
shares of Class A common stock are expected to begin trading on the
New York Stock Exchange on June 14,
2019 under the symbol "CHWY." The offering is expected to
close on June 18, 2019, subject to
customary closing conditions.
Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and
Allen & Company LLC are acting as joint lead bookrunning
managers for the offering. BofA Merrill Lynch, Barclays Capital
Inc., BC Partners Securities LLC, Jefferies LLC, RBC Capital
Markets, LLC, UBS Securities LLC and Wells Fargo Securities, LLC
are also acting as joint bookrunning managers. Nomura Securities
International, Inc., Raymond James
& Associates, Inc. and William
Blair & Company, L.L.C. are acting as co-managers.
A registration statement relating to this offering was declared
effective by the Securities and Exchange Commission on June 13, 2019. This offering is being made only
by means of a prospectus, copies of which may be obtained, when
available, from:
- Morgan Stanley & Co. LLC, Attention: Prospectus Department,
180 Varick Street, 2nd Floor, New York,
NY 10014;
- J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood,
NY 11717, by telephone at (866) 803-9204 or by email at
prospectus-eq_fi@jpmchase.com; or
- Allen & Company LLC, Attention: Prospectus Department, 711
Fifth Avenue, 10th Floor, New York,
NY 10022, by telephone at (212) 339-2220 or by email at
allenprospectus@allenco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Forward Looking Statements
This press release includes "forward looking information,"
including with respect to the initial public offering. These
statements are made through the use of words or phrases such as
"will" or "expect" and similar words and expressions of the future.
Forward-looking statements involve known and unknown risks,
uncertainties and assumptions, including the risks outlined under
"Risk Factors" in the preliminary prospectus and elsewhere in the
Company's filings with the SEC, which may cause actual results to
differ materially from any results expressed or implied by any
forward-looking statement. Although the Company believes that the
expectations reflected in its forward-looking statements are
reasonable, it cannot guarantee future results. The Company has no
obligation, and does not undertake any obligation, to update or
revise any forward-looking statement made in this press release to
reflect changes since the date of this press release, except as
required by law.
About Chewy
Our mission is to be the most trusted and convenient online
destination for pet parents everywhere. We believe that we are the
preeminent online source for pet products, supplies and
prescriptions as a result of our broad selection of high-quality
products which we offer at competitive prices and deliver with an
exceptional level of care and a personal touch. We continually
develop innovative ways for our customers to engage with us and
partner with more than 1,600 of the best and most trusted brands in
the pet industry to bring a high-bar, customer-centric experience
to our customers.
Media Contacts:
Evan Goetz
Evan.goetz@teneo.com
(917) 853-8199
Bethany Sherman
Bethany.sherman@teneo.com
(917) 373-6465
Andrea Duffy
Andrea.duffy@teneo.com
(646) 984-0240
Investor Contact:
ir@chewy.com
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SOURCE Chewy, Inc.