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Chewy Launches IPO; Valuation Pitched At $7B

The share price is expected to be between $17 and $19.




DANIA BEACH, FL — Chewy Inc. has launched the roadshow for its initial public stock offering.

Owner PetSmart Inc. puts Chewy’s proposed valuation at about $7 billion, Bloomberg notes.

Chewy is offering 5.6 million shares of its Class A common  stock. A subsidiary of PetSmart is offering 36 million shares of Chewy’s Class A common stock, plus up to an additional 6.24 million shares that the underwriters have the option to purchase.

The initial public offering price is expected to be between $17 and $19 per share. The shares have been approved for listing on the New York Stock Exchange under the symbol CHWY.


Chewy intends to use the net proceeds from this offering for working capital and other general corporate purposes, according to a press release. Chewy will not receive any of the proceeds from the sale of shares offered by the subsidiary of PetSmart.

The online pet product retailer was acquired by PetSmart in 2017 in a $3.3 billion deal.



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At first it was just an idea: Animal supplements needed the same quality control that human-grade supplements receive. But that was enough to start a movement and an organization —the National Animal Supplement Council — that would be dedicated to establishing a comprehensive path forward for the animal supplements industry. In this Media Spotlight interview, NASC’s president, Bill Bookout, talks to PETS+ interviewer Chloe DiVita about the industry today: Where it’s headed, what’s the latest focus and why it’s vital to gain the involvement of independent pet product retailers.

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