Petco Health and Wellness (WOOF) IPO Opens 44% Higher
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Today's IPO for Petco Health and Wellness (NASDAQ: WOOF) opened for trading at $26 after pricing 48,000,000 shares of Class A common stock at a price to the public of $18.00 per share.
In addition, Petco has granted the underwriters a 30-day option to purchase up to an additional 7,200,000 shares of its Class A common stock at the public offering price, less underwriting discounts and commissions.
Sponsors for the Petco Health and Wellness IPO were CVC Capital Partners and CPP Investments.
Goldman Sachs & Co. LLC and BofA Securities are acting as joint lead book runners for the offering. Citigroup, Evercore ISI, Credit Suisse, UBS Investment Bank and Wells Fargo Securities are acting as joint book runners, and Baird, Guggenheim Securities, AmeriVet Securities, C.L. King & Associates, R. Seelaus & Co., LLC, Ramirez & Co., Inc. and Siebert Williams Shank are acting as co-managers for the offering.
Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and our own Petco partners. Since our founding in 1965, we've been trailblazing new standards in pet care, delivering comprehensive wellness solutions through our products and services, and creating communities that deepen the pet-pet parent bond. We operate more than 1,500 pet care centers across the U.S., Mexico and Puerto Rico, including a growing network of more than 100 in-store veterinary hospitals, and offer a complete resource for pet health and wellness online and through the Petco app. In tandem with The Petco Foundation, an independent nonprofit organization, through in-store adoption events, we have helped find homes for more than 6.5 million animals.
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