08:05 AM EDT, 07/17/2024 (MT Newswires) -- Wag! Group Co ( PET ) said Wednesday it priced an underwritten public offering of 7.4 million shares of common stock at $1.35 per share, expecting gross proceeds of $10 million.

Net proceeds will be used to repay $8.5 million debt, with the remainder for working capital and corporate purposes, the company said.

The offering is expected to close around Thursday, pending customary conditions.

Wag! Group ( PET ) shares were down 7% in recent Wednesday premarket activity.

Price: 1.4400, Change: -0.11, Percent Change: -7.10