Wag! Group (PET) Prices 7.41M Share Offering at $1.35/sh

Wag! Group Co. (Nasdaq: PET), which strives to be the number one platform to solve the service, product, and wellness needs of the modern U.S. pet household, today announced the pricing of its underwritten public offering of 7,407,407 shares of its common stock at a price to the public of $1.35 per share. The gross proceeds to Wag! from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be $10 million. Wag! intends to use the net proceeds from the offering to repay approximately $8.5 million of indebtedness, with any remainder to be used for working capital and general corporate purposes. The offering is expected to close on or about July 18, 2024, subject to the satisfaction of customary closing conditions.

Craig-Hallum is acting as sole managing underwriter for the offering.

The shares described above are being offered by Wag! pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed with the Securities and Exchange Commission (“SEC”) and declared effective on September 13, 2023. The offering is being made only by means of a prospectus supplement and the accompanying prospectus that will form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to the offering was filed with the SEC on July 16, 2024. The final prospectus supplement and the accompanying prospectus relating to the offering will be filed with the SEC and available on the SEC’s website at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained from Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

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