DANIA BEACH, Fla. — Chewy, Inc. on June 3 announced that it has launched the roadshow for the initial public offering (IPO) of its Class A common stock. The IPO price of the online pet product retailer is expected to be between $17.00 and $19.00 per share. Chewy is offering 5.6 million shares of its Class A common stock. A subsidiary of PetSmart, Inc., 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.

Chewy intends to use the net proceeds from this offering for working capital and other general corporate purposes. Chewy will not receive any of the proceeds from the sale of shares offered by the subsidiary of PetSmart, Inc. The shares have been approved for listing on the New York Stock Exchange under the symbol "CHWY".

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering may be obtained from: Morgan Stanley & Co. LLC, New York.


Read more about corporate strategy, financial performance, mergers and acquisitions on our Business page.