Pet Supplies Co. Chewy Raises $1B In Upsized IPO

Law360 (June 14, 2019, 11:54 AM EDT) -- Online pet food and supplies retailer Chewy Inc.'s shares soared as they started trading Friday on the New York Stock Exchange, a day after the PetSmart subsidiary said it raised more than $1 billion in an upsized initial public offering led by Kirkland & Ellis.

According to the company's late-Thursday statement, it sold 46.5 million shares of its Class A common stock for $22 apiece in the offering, above a newly revised projected range and more shares than it previously said it planned to offer in the IPO.

On Wednesday, the Dania Beach, Florida-based company said it increased the offering's projected...

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