Business
Pet Valu Holdings Ltd. Announces Closing of C$22.5 Million Full Exercise of Over-Allotment Option
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About this update from Pet Valu Holdings Ltd.
[{"type":"text","content":"Pet Valu Holdings Ltd. Announces Closing of C$22.5 Million Full Exercise of Over-Allotment Option\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 21, 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 further to the previously announced closing of the 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 C$28.85 per Common Share, the syndicate of Underwriters (as defined below) have exercised their over-allotment option (the “\n \n Over-Allotment Option\n \n ”) in full and have purchased an additional 780,000 Common Shares on the same terms and conditions as the Offering. The gross proceeds to the Selling Shareholders from the Offering and the exercise of the Over-Allotment Option in the aggregate is approximately C$172.5 million.\n \n\n All net proceeds have been paid directly to the Selling Shareholders. The Company did not receive any proceeds from the Offering or the exercise of the Over-Allotment Option.\n \n\n Following the Offering and the exercise of the Over-Allotment Option, the Selling Shareholders, in the aggregate, beneficially own 19,969,450 Common Shares representing approximately 29% 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 (the “\n \n Underwriters\n \n ”).\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 prospectu...