Summary by Futu AI
Chewy, Inc., a leading online retailer of pet food and products, has announced that one of its major stockholders, Buddy Chester Sub LLC, which holds a 10% stake in the company, is set to sell 1,338,262 shares of Class A Common Stock. The sale is scheduled for 07/01/2024, with the shares valued at an aggregate market value of $36,454,257. The shares in question were originally acquired by an affiliate of Buddy Chester Sub LLC during the acquisition of Chewy and were later obtained by the seller as part of an internal reorganization on 05/31/2017. Over the past three months, Buddy Chester Sub LLC has sold a total of 5,328,543 shares, generating gross proceeds of $160,392,341.