IPO Report: Chewy IPO: 5 things to know about the ‘pet humanization’ products seller

Chewy Inc., the rapidly growing online seller that says it is feeding on a “pet humanization” trend, will collect a lot of bones from its initial public offering.

Chewy CHWY, +0.00% announced Thursday that it planned to sell at least 46.5 million shares at $22 apiece, which would bring in more than $1 billion at an initial valuation approaching $9 billion. Chewy had already increased its targeted range to $19 to $21, from an earlier range of $17 to $19, then priced higher than that range and added nearly 5 million more shares to the offering.

The extra shares come from corporate parent PetSmart Inc.

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