SilverCape's $3/share acquisition proposal sparks PETS
SilverCape's $3/share acquisition proposal sparks PETS 28% premarket surge
- SilverCape Investments released revised cash buyout offer at $3.00 per share
- Represents ~70% premium to Friday's close of $1.76 per share
- Follows Dec 2025 $4/share unsolicited proposal that PetMed did not pursue
- Open letter criticizes board for value destruction and poor governance
- PETS shares traded near $2.23 in premarket, confirming takeover interest
- Company previously evaluated $4-4.25 offers but chose to stay public
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