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Latham & Watkins Advises Initial Purchasers in PetIQ, Inc.’s Convertible Senior Notes Offering

May 15, 2020
Proceeds to be used to fund Capstar acquisition.

PetIQ, Inc. (“PetIQ”), a leading pet medication and wellness company, has announced the pricing of its offering of US$125 million aggregate principal amount of 4% convertible senior notes due 2026 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act. The issuance and sale of the notes are scheduled to settle on May 19, 2020, subject to customary closing conditions. PetIQ also granted the initial purchasers of the notes a 30-day option to purchase up to an additional US$18.75 million principal amount of notes.

Latham & Watkins LLP represented the initial purchasers in the offering with a corporate team led by Chicago partner Christopher Lueking and New York partner Stelios Saffos, with associates Scott Westhoff, Jonathan Burns, and Tina Jeon. Advice was also provided on convertible debt matters by New York partner Greg Rodgers, with counsel Arash Aminian Baghai and associate Ryan Gold; on derivative matters by New York partner Catherine Lee, with associate Jack Neff; and on tax matters by New York partner Bora Bozkurt, with associate Ron Moore.