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Pet Valu Holdings Ltd. Announces C$150 Million Secondary Bought Deal Offering
Pet Valu Holdings Ltd. Announces C$150 Million Secondary Bought Deal Offering Canada Ne...
About this update from Pet Valu Holdings Ltd.
[{"type":"text","content":"\n\n\n\n Pet Valu Holdings Ltd. Announces C$150 Million Secondary Bought Deal Offering\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n Base shelf prospectus is accessible, and prospectus supplement will be accessible within two business days, on SEDAR+\n \n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n \n\n\n\n MARKHAM, ON\n \n\n ,\n \n\n May 12, 2025\n \n\n /CNW/ - Pet Valu Holdings Ltd. (\"Pet Valu\" or the \"Company\") (TSX: PET), the leading Canadian specialty retailer of pet food and pet-related supplies, announced today that PV Holdings S.à r.l., Roark Capital Partners II AIV AG, L.P., RCPS Equity Cayman LP and Roark Capital Partners Parallel II AIV AG, L.P. (collectively, the \"Selling Shareholders\"), have entered into an agreement with a syndicate of underwriters led by RBC Capital Markets and CIBC Capital Markets to complete a secondary offering on a bought deal basis (the \"Offering\"). Under the agreement, the underwriters have agreed to purchase 5.2 million common shares (\"Common Shares\") of the Company at a purchase price of\n \n C$28.85\n \n per Common Share for total gross proceeds to the Selling Shareholders of approximately\n \n C$150 million\n \n .\n \n\n The Selling Shareholders have granted the Underwriters an option, exercisable, in whole or in part, at any time until and including 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering at the offering price to cover over-allotments, if any.\n \n\n The net proceeds of the Offering will be paid directly to the Selling Shareholders. The Company will not receive any proceeds from the Offering.\n \n\n The Common Shares will be offered by way of a prospectus supplement to the short form base shelf prospectus of the Company dated\n \n August 15, 2024\n \n in all of the provinces and territories of\n \n Canada\n \n and may also be off...