Chewy Inc. has entered into an Underwriting Agreement with Buddy Chester Sub LLC and J.P. Morgan Securities LLC for a secondary offering. The offering involves the sale of 23,952,096 shares of Class A common stock by Buddy Chester Sub LLC, affiliated with BC Partners, at a price of $41.95 per share. Additionally, the underwriter was granted a 30-day option to purchase up to an additional 3,592,815 shares, which was substantially exercised. Chewy Inc. did not sell any shares nor receive any proceeds from this transaction. The offering concluded successfully, and concurrently, Chewy repurchased $100 million worth of shares from Buddy Chester Sub LLC.
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