SAN DIEGO — After announcing plans to go public in November 2020, Petco Health and Wellness Company, Inc., announced Jan. 13 its initial public offering (IPO) of 48 million shares of Class A common stock at $18 per share.
The company has also allowed underwriters a 30-day option to purchase an additional 7.2 million shares of Class A common stock at the same price, minus underwriting discounts and commissions.
Trading of Petco stock began on the Nasdaq Global Select Market on Jan. 14 under the ticker symbol “WOOF.” This IPO is expected to close on Jan. 19.
After deducting underwriting discounts, commissions and underwriter stock purchase options, the company expects to generate roughly $816.5 million in net proceeds from the IPO.
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