Chewy, Inc. Announces Pricing of Offering of Class A Common Stock
September 17 2020 - 8:21AM
Business Wire
Chewy, Inc. (“Chewy”) (NYSE: CHWY) today announced that
it has priced its underwritten public offering (the
“Offering”) of 5.1 million shares of its Class A common
stock at a price of $55.25 per share. The underwriter has agreed to
purchase all of the shares offered, and the shares may be offered
by the underwriter from time to time for sale in one or more
transactions on the New York Stock Exchange, in the
over-the-counter market, through negotiated transactions or
otherwise at market prices prevailing at the time of sale, at
prices related to prevailing market prices or at negotiated prices.
The Company has granted the underwriter an option to purchase up to
765,000 additional shares of Class A common stock. The Company
expects to use the net proceeds from the Offering for general
corporate purposes, including growth initiatives to expand our
total addressable market. The Offering is subject to market and
other conditions.
The Offering is expected to close on September 21, 2020, subject
to customary closing conditions.
Morgan Stanley & Co. LLC is acting as sole underwriter for
the Offering.
The Offering is being made under an automatic shelf registration
statement filed with the U.S. Securities and Exchange Commission
(“SEC”) on September 16, 2020. The Offering will be made
only by means of a prospectus supplement and the accompanying
prospectus. Before investing, prospective investors should read the
prospectus, the prospectus supplement and the documents
incorporated by reference therein for more complete information
about Chewy and the Offering. These documents may be obtained for
free by visiting the SEC’s website at www.sec.gov. Alternatively,
copies of the prospectus supplement and accompanying prospectus,
when available, may be obtained from: Morgan Stanley & Co. LLC,
Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New
York, NY 10014.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of any 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. Any offers, solicitations or offers to buy,
or any sales of securities will be made in accordance with the
registration requirements of the Securities Act of 1933, as
amended.
About Chewy
Our mission is to be the most trusted and convenient online
destination for pet parents (and partners) 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 2,000 of the best and most
trusted brands in the pet industry, to bring a high-bar,
customer-centric experience to our customers.
Forward Looking Statements
This press release includes “forward looking information,”
including with respect to the 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 related to the Offering 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200917005487/en/
Investor Contact: Robert A. LaFleur ir@chewy.com
Media Contact: Diane Pelkey dpelkey@chewy.com
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