04:29 AM EDT, 09/20/2024 (MT Newswires) -- Chewy (CHWY) said late Thursday an offering of 16.7 million of its class A common shares by shareholder BC Partners Advisors was priced at $30 per share.

BC Partners Advisors, the company's largest shareholder, granted the underwriter a 30-day option to purchase up to 2.5 million additional shares.

Chewy said it will not receive any proceeds from the offering, which is expected to close by Sept. 23.

Concurrent with the closing, Chewy said it has agreed to purchase and cancel $300 million worth of shares from BC Partners Advisors.

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