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Benzinga

Business

Adam Eckert

Chewy Stock Is Sliding After Hours: What's Going On?

Chewy.WallStreet

Chewy Inc (NYSE:CHWY) shares are trading lower in Monday’s after-hours session after the company announced a public offering of common stock by a selling stockholder.

What Happened: After market close on Monday, Chewy said it commenced an underwritten public offering of $1 billion of its Class A common stock by Buddy Chester Sub LLC, an entity affiliated with Chewy’s largest shareholder.

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