https://petiq.com/ IPO $15 to $16. 5.6 Million shares This is no Blue Apron. This one heads north. To the moon Fido. http://www.nasdaq.com/markets/ipos/company/petiq-inc-1026600-84034
Hit "buy at the market" and get 1000 shares for each of your kids. Pay for their college and get them interested in something other than smartphones all in one click.
PetIQ is a rapidly growing distributor and manufacturer of veterinarian-grade pet prescription (“Rx”) medications, over-the-counter (“OTC”) flea and tick preventatives and health and wellness products for dogs and cats. We pioneered and are the leading seller to the retail channel of pet products that were previously available for purchase primarily from veterinary clinics. We enable our customers to offer pet owners choice, affordability and convenience on products from leading national brands (“distributed products”) as well as our proprietary value-branded alternatives. Consumer behavior supports our continuing growth: pet owners are increasingly migrating their purchases away from veterinarians’ offices to the channels we serve. In addition, pet owners are shifting their retail purchases from non-veterinarian-grade products, previously the only products available in the retail channel, to the premium veterinarian-grade products that we sell. We believe we are well positioned to capitalize on these changes in consumer behavior because of our category leadership, broad product portfolio, value proposition and strong customer relationships. The end markets we serve are large and growing: U.S. sales of pet medications have grown to an estimated $7.4 billion in 2016 and are estimated to reach $8.9 billion by 2019, representing a compound annual growth rate (“CAGR”) of 6% between 2016 and 2019, according to Packaged Facts. Our product portfolio spans a wide range of veterinarian-grade Rx medications and leading OTC medications as well as other health and wellness products. We offer our customers a comprehensive category management solution and sell products under multiple brands to address channel-specific requirements. Our most popular product categories include: ________________________ We believe our consumer value proposition drives increasing demand for our products. Pet owners can typically buy our distributed products from retailers at a 20-30% savings compared to the prices charged by veterinarians, and can save as much as 50% on our proprietary value-branded products, which contain the same active ingredients as distributed products and are subject to the same Food and Drug Administration (“FDA”) and Environmental Protection Agency (“EPA”) approval process. We have successfully introduced our products into all major retail channels including mass, food and drug, clubs, pet specialty, online and pharmacies. Our network of customers includes Walmart, Sam’s Club, Costco, PetSmart, Petco, Kroger, Target, and BJ’s Wholesale Club, among others, and more than 40,000 retail pharmacy locations. We support our retail customers by (i) providing unique merchandising solutions, (ii) offering 24-hour fulfillment of Rx pet medications to pharmacies and (iii) creating marketing and promotional programs that highlight the value proposition and availability of veterinarian-grade pet medications through the retail channel. We rapidly develop, manufacture and introduce innovative new products to retailers and consumers. Our current product portfolio and pipeline of future products have been developed through a combination of in-house specialists and animal health research and development (“R&D”) experts. In addition, we specialize in market analysis, product development, packaging, marketing, industry licensing and managing both EPA and FDA regulated products. These internal and external resources enable us to expand our portfolio of proprietary value-branded products and develop next-generation versions of our existing products. We have found that our retail expertise and strong market position makes us an attractive partner for scientists and entrepreneurs developing new products in the pet health and wellness field. A combination of our internal expertise and strategic relationships have produced several of our top selling products and brands, including VetIQ, PetAction Plus, Advecta, PetLock Plus and TruProfen. --- PetIQ, Inc., a Delaware corporation, was incorporated in February 2016 for the purpose of this offering and has had no business activities or transactions to date. PetIQ is a holding company and the sole managing member of True Science Delaware Holdings, LLC, a Delaware limited liability company, which was formed in May 2012 and renamed PetIQ Holdings, LLC, which we refer to as HoldCo, in February 2016 to better reflect our pet-centric business. HoldCo is the sole member of PetIQ, LLC, an Idaho limited liability company and our predecessor for financial reporting purposes, and has no operations and no assets other than the equity interests of OpCo. Our principal executive office is located at 500 E. Shore Dr., Suite 120, Eagle, ID 83616, and our telephone number is 1-208-939-8900. Our corporate website address is www.petiq.com.
I want this thing to pull back to $20 again soooooo bad. I will put a second mortgage on the trailer.
It looks like this thing, as best as I can figure here, has a PE of about 21 +/-. Proceeds should zero out the debt. 6 million shares held back on a 6 month lockup. All in all not bad. I like the CEO, at least what I saw of him. All business. No sense of humor. And they're from Iowa. (They don't f around there. Anybody remember Shirley Jones in Music Man? They don't make musicals like that anymore.) All in all, better than SNAP and Apron. And Cramer loves dogs. $21.50 and climbing. Looks like more at $20 ain't happenin'.
This is actually a pretty conservative IPO the deeper I dig. You have 45 million in shareholder equity already. APRN had negative 200M And this company has earnings. EARNINGS! Imagine that. Gotta love Iowa. I bet you Millenials never knew where that saying came from. Click to 3:55
I guess because they already have a huge presence on AMZN. Unless Bezos wants to start buying and selling pet meds himself.