Chewy, Inc. has taken the first step in preparation for an initial public offering (IPO). The online retailer, which was acquired by PetSmart in 2017, has filed documents with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its Class A common stock.
The number of shares to be offered and the price range for the proposed offering have not yet been determined. Chewy intends to apply to list its Class A common stock under the ticker symbol "CHWY."
Allen & Company LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint lead bookrunning managers for the offering.