Chewy, the largest US online retailer of pet food and supplies being spun out of PetSmart, raised $1.0 billion by offering 46.5 million shares (88% insider) at $22, above the range of $19 to $21. Chewy plans to list on the NYSE under the symbol CHWY. Morgan Stanley, J.P. Morgan, Allen & Company, BofA Merrill Lynch, Barclays, Jefferies, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities acted as lead managers on the deal.
