Private Equity

Chewy Ipo Is No Dog: More Shares To Sell At Higher Price, Total Raise Tops $1B

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Chewy Inc. said Thursday that it will sell more shares at a higher price than it originally expected in an initial public offering. The online pet-products company said it planned to sell at least 46.5 million shares at $22 a share, which would bring in more than $1 billion at an initial valuation approaching $9 billion. Chewy had already increased its targeted range to $19 to $21, from an earlier range of $17 to $19, then priced higher than that range and added nearly 5 million more shares to the offering.

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