Wag! Group Co. has announced a recapitalization transaction with Retriever LLC as part of a voluntary, pre-packaged Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware. This restructuring aims to reduce debt and transition ownership to Retriever, ensuring the company's long-term success under private ownership. Operations will continue without interruption during the restructuring process. Wag! has secured debtor-in-possession financing from Retriever LLC to maintain liquidity and meet business obligations. Additionally, Retriever has committed to providing exit financing, supporting Wag!'s emergence with a strengthened financial foundation. The plan is pending approval by the court, and Wag! is optimistic about a successful confirmation and emergence.