Petmed Express ( (PETS) ) has issued an announcement.
PetMed Express, Inc. has introduced a limited duration shareholder rights plan aimed at protecting shareholder investments by preventing any entity from gaining control of the company without paying a premium. This plan, effective December 16, 2024, issues rights for each share of common stock and becomes exercisable if someone acquires 12.5% or more of the stock without board approval. The rights allow shareholders to purchase stock at a discount, ensuring the board can make decisions benefiting all shareholders without hindering approved mergers or sales.
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