PetIQ, which distributes and manufactures flea and tick, Rx and wellness products for dogs and cats, raised $100 million by offering 6.3 million shares at $16, the high end of the range of $14 to $16. The company originally filed to sell 5.67 million shares. The Eagle, ID-based company generated $215 million in sales in the 12 months ended March 31, 2017, with gross margins of 16%. Walmart and Sam's Club are its top customers.
PetIQ will list on the Nasdaq under the symbol PETQ. Jefferies and William Blair acted as joint bookrunning managers on the deal.
The article PetIQ prices upsized IPO at $16, the high end of the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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