PetIQ, which manufactures and distributes low-cost pet medications and other health products, announced terms for its IPO on Tuesday.
The Eagle, ID-based company plans to raise $85 million by offering 5.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, PetIQ would command a market value of $302 million.
PetIQ was founded in 2010 and booked $215 million in sales for the 12 months ended March 31, 2017. It plans to list on the Nasdaq under the symbol PETQ. Jefferies and William Blair are the joint bookrunners on the deal. It is expected to price the week of July 17.
