Chewy announces $1B Class A common stock offering for holders

Chewy (CHWY) announced the commencement of an underwritten public offering of $1.0B of shares of its Class A common stock by Buddy Chester Sub, which is an entity affiliated with funds advised by BC Partners PE, 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. J.P. Morgan is acting as the sole underwriter for the offering.