PetIQ (PETQ) started trading on the Nasdaq on 21 July 2017

PetIQ, which distributes pet medications, sold 6,250,000 million shares at $16 a share to raise $100 million. The company posted net sales of $200.2 million in 2016 on top of a loss of $3.4 million. However, in the three months ended in March of this year, the company swung to a profit, with net income of $4.3 million on sales of $67 million. It granted underwriters a 30-day option to sell an additional 937,500 shares. Jefferies and William Blair were the lead underwriters on the offering.

PetIQ, Inc. (PETQ) a manufacturer and distributor of pet medications.  The company sells medication in three categories.

1. Prescription medications for heartworm prevention, arthritis and heart disease.
2. Over-the-counter medications for flea and tick prevention.
3. Health and wellness products, which include vitamins, treats, hygiene products and nutritional supplements.

The company has its products in 40,000 retail pharmacies. It also has supply deals with Wal-Mart (WMT), Sam’s Club, Costco (COST), PetSmart (PETM), Petco (PETC), Kroger (KR), Target (TGT) and BJ’s Wholesale.

Americans spent $81.4 billion on pet products and services in 2016, compared to $28.5 billion in 2001.  Sales of pet medications alone are estimated to have grown to $7.4 billion in 2016 from $5.8 billion in 2011 and are expected to reach $8.9 billion by 2019, according to PetIQ's Form S-1 filed with the Securities and Exchange Commission.

Scott Adcock, left, cofounder and president of PetIQ, an Eagle pet-medications maker, and Cord Christensen, right, cofounder and CEO

PetIQ employees and some of their family members attended a ceremony Friday, July 21, 2017, at Nasdaq’s headquarters in New York City to mark the initial offering of PetIQ stock to the public. 

PetIQ CEO Cord Christensen

PetIQ products

PetIQ, Inc. is engaged in manufacturing and distributing pet medication and health and wellness products to the retail channel in the United States. The Company provides retail stores with third-party brands, including Frontline Plus, Heartgard Plus, PetAction Plus, Advecta II, Pet Lock Plus, Pet Lock Max, TruProfen and Heartshield. It distributes the products through veterinarian, retail and e-commerce channels. The Company offers its products in a range of categories, including Rx Medications, OTC Medications and Supplies, and Health and Wellness Products. Rx Medications offering includes heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics and other specialty medications. The Company manufactures Heart Shield Plus, version of Heartgard Plus, which prevents heartworm infection in dogs. The Company also manufactures TruProfen, the version of Rimadyl, which treats arthritis in dogs. OTC Medications and Supplies include flea and tick control products.

Website:  

https://petiq.com

Address

Suite 120 500 E. Shore Drive 83616
Eagle, ID
United States