$PETS

PetMed Express Receives Unsolicited Acquisition Proposal From SilverCape Investments

PetMed Express (PETS) said Tuesday it received an unsolicited, non-binding and conditional proposal from SilverCape Investments to acquire the company for $3 per share in cash.The company said the proposal follows SilverCape's previous unsolicited proposal of $4.00 per share in December 2025.PetMed Express said its board will review the proposal and is prepared to engage with SilverCape if it signs a customary nondisclosure agreement with a standstill provision.The board has not made a decision, and there is no assurance a transaction will occur, the company added.Shares of PetMed Express were up 3% in early Tuesday trading.Price: $1.88, Change: $+0.05, Percent Change: +3.02%