Chewy announced the commencement of an underwritten offering of $500M of shares of its Class A common stock by Buddy Chester Sub, which is an entity affiliated with funds advised by BC Partners Advisors, Chewy’s largest shareholder. Chewy will not sell any shares of its Class A common stock in the offering and will not receive any proceeds from the sale of the shares of Class A common stock being offered by the selling stockholder. Morgan Stanley is acting as lead book-running manager for the offering.
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