/ NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
MARKHAM, Ontario, May 8, 2024 (GLOBE NEWSWIRE) — Pet Valu Holdings Ltd. (“Pet Valu” or the “Company”) (TSX:PET), Canada’s leading specialty retailer of pet food and pet supplies, announced today that PV Holdings S.à rl, Roark Capital Partners II AIV AG, LP , RCPS Equity Cayman LP and Roark Capital Partners Parallel II AIV AG, LP (collectively, the “Selling Shareholders”), have entered into an agreement with a syndicate of underwriters led by CIBC Capital Markets and RBC Capital Markets to complete a secondary offering on on a purchased purchase basis (the “Offer”). Under the agreement, the underwriters agreed to purchase 5.9 million shares of the Company’s common stock at a purchase price of C$29.65 per common share for total gross proceeds to the Selling Stockholders of approximately C$175 million.
The Selling Shareholders have granted the Underwriters an option, exercisable, in whole or in part, at any time up to 30 days after the closing of the Offer, to purchase up to an additional 15% of the Offer at the bid price to cover. over-allotments, if any.
The net proceeds of the Offering will be paid directly to the Selling Shareholders. The Company will not receive any profit from the Offer.
The Common Shares will be offered by way of a prospectus supplement to the Company’s base prospectus dated July 22, 2022 in all provinces and territories of Canada and may also be offered by way of private placement in the United States. .
The offering is expected to close on or about May 15, 2024, subject to customary closing conditions.
The securities under the Offer have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or the laws of securities of any state of the United States and cannot be. offered, sold or delivered, directly or indirectly, in the United States (as that term is defined in Regulation S under the United States Securities Act) or to, or for the account or benefit of, States Persons United States (as defined in the United States Securities Act). ), except pursuant to an exemption from the registration requirements of the United States Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any of these securities in any jurisdiction in which the offer or sale is not permitted.
About Pet Value
Pet Valu is Canada’s leading retailer of pet food and pet-related supplies with more than 750 corporate-owned or franchised locations across the country. For more than 40 years, Pet Valu has earned the trust and loyalty of pet parents by offering expert customer service, premium product offerings and committed in-store services. Pet Valu neighborhood stores offer more than 7,000 products at competitive prices, including a wide assortment of premium, super premium, holistic and award-winning proprietary brands. To learn more, visit: www.petvalu.ca.
Forward-Looking Information
Some of the information contained in this press release is forward-looking information. Forward-looking information is provided as of the date of this press release and is based on management’s opinions, estimates and assumptions in light of its experience and perception of historical trends, current trends, current conditions and developments expected futures, as well as other factors. that management believes appropriate and reasonable in the circumstances. Such forward-looking information is intended to provide information about management’s current expectations and plans, and may not be suitable for other purposes. Pet Valu does not undertake to update such forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable Canadian securities laws. Actual results and the timing of events may differ materially from those anticipated in the forward-looking information due to various factors and assumptions, and subject to risks as set forth in the Company’s annual information form dated the March 4, 2024 and as discussed. under “Risk Factors” in the prospectus supplement and the short-form base prospectus.
For more information
Investor Contact:
James Allison, Senior Director, Investor Relations
investors@petvalu.com
289-806-4559
