Business
Pet Valu Holdings Ltd. Announces Closing of C$150 Million Secondary Bought Deal Offering
Not for distribution to U.S. news wire services or dissemination in the United States MARKH...
About this update from Pet Valu Holdings Ltd.
[{"type":"text","content":"Pet Valu Holdings Ltd. Announces Closing of C$150 Million Secondary Bought Deal Offering\n\n\n\n\n Not for distribution to U.S. news wire services or dissemination in the United States\n \n\n\n MARKHAM, Ontario, May 16, 2025 (GLOBE NEWSWIRE) -- Pet Valu Holdings Ltd. (“\n \n Pet Valu\n \n ” or the “\n \n Company\n \n ”) (TSX: PET), the leading Canadian specialty retailer of pet food and pet-related supplies, announced today that the previously announced secondary bought deal offering (the “\n \n Offering\n \n ”) of 5,200,000 common shares of the Company (the “\n \n Common Shares\n \n ”) by 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 “\n \n Selling Shareholders\n \n ”) at a price of $28.85 per Common Share, for total gross proceeds to the Selling Shareholders of approximately C$150 million, has closed.\n \n\n All net proceeds have been paid directly to the Selling Shareholders. The Company did not receive any proceeds from the Offering.\n \n\n As previously announced, on May 12, 2025, the Company separately purchased for cancellation an aggregate of 2,079,000 Common Shares from the Selling Shareholders (the “\n \n Share Repurchase\n \n ”). Following the Offering and the Share Repurchase, the Selling Shareholders, in the aggregate, beneficially own 20,749,450 Common Shares representing approximately 30% of the outstanding Common Shares.\n \n\n The Offering was led by RBC Capital Markets and CIBC Capital Markets, together with a syndicate of underwriters consisting of Barclays Capital Canada, Desjardins Securities Inc., Jefferies Securities, Inc., National Bank Financial Inc., Raymond James Ltd., TD Securities Inc., UBS Securities Canada Inc. and ATB Securities Inc.\n \n\n The Common Shares were offered and sold by way of a prospectus supplement dated May 14, 2025 (the “\n \n Prospectus Supplement\n \n ”) to the Company’s short form base shelf prospectus dated August 15, 2024 filed in each of the provinces and territories of Canada, a copy of which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.\n \n\n The securities under the Offering have not been, and will not be, registered under ...