05:45 AM EST, 12/12/2024 (MT Newswires) -- Chewy (CHWY) said late Wednesday an underwritten public offering of about 15.9 million shares of its class A common stock by Buddy Chester Sub has been priced.

The selling stockholder granted the underwriter a 30-day option to buy up to an additional about 2.4 million shares.

Chewy said it will not directly sell any shares and therefore will not receive any proceeds from the offering.

The company has agreed to buy $50 million of its class A common stock from the selling stockholder at the offering price, separate from its existing $500 million share repurchase program.