PetMed Express Receives Unsolicited Offer From Cardone Ventures for $4.25 per Share

PetMed Express, an online pet pharmacy, has received a full buyout offer from Cardone Ventures at $4.25 per share, implying an equity value of $89 million. The offer targets all outstanding shares and is non-binding, with the parties possibly not reaching a definitive agreement or the deal not closing. PetMed Express shares have soared with a 36% gain on Tuesday.