Chewy Stock Surges Despite 426th Ranking in Trading Volume as $1 Billion Offering Unfolds

On June 23, 2025, Chewy (CHWY) saw a trading volume of $241 million, marking a 52.87% decrease from the previous day. The stock ranked 426th in terms of trading volume for the day. Chewy's stock price rose by 3.46%, marking its third consecutive day of gains and a total increase of 4.46% over the past three days.

Chewy has initiated a significant financial move with the announcement of a $1 billion public offering of its Class A common stock. This offering is being conducted by Buddy Chester Sub LLC, an entity affiliated with BC Partners, which is Chewy's largest shareholder. The selling stockholder has the option to grant underwriters an additional 30-day period to purchase up to $150 million more shares of Class A common stock. Notably, Chewy itself will not be selling any shares in this offering and will not receive any proceeds from the sale.

In conjunction with the offering, Chewy has agreed to repurchase $100 million worth of Class A common stock from the selling stockholder. This repurchase was approved by a special committee of Chewy's Board of Directors, consisting solely of independent directors not affiliated with BC Partners. The repurchased shares will be canceled and retired upon completion of the transaction. This repurchase is separate from Chewy's existing $500 million share repurchase program, which will remain unaffected by this transaction.

J.P. Morgan is acting as the sole underwriter for the offering. Chewy has filed a registration statement with the Securities and Exchange Commission (SEC) for the offering. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be available on the SEC’s website. Investors are encouraged to review these documents for more complete information about Chewy and the offering.