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Wag! Group announces Chapter 11 recapitalization transaction with Retriever
Wag! Group is pursuing a comprehensive balance sheet restructuring through a voluntary, pre-packaged Chapter 11 process in the U.S. Bankruptcy Court for the District of Delaware. The company's primary secured lender, Retriever, which constitutes the only voting class under the plan, has already voted to accept the pre-packaged plan of reorganization. The plan provides a clear and expeditious path to reduce debt, transition ownership of the company to Retriever, and position the business for long-term success under private ownership. Retriever - currently the Company's primary secured lender - will assume ownership of the reorganized company following court approval of the plan. The pre-packaged plan is designed to be implemented on an accelerated basis, with Wag! expecting to emerge from Chapter 11 within approximately 40 days. To support operations during the process, the company has secured a commitment for debtor-in-possession financing from its existing secured lender, Retriever. This financing, combined with cash generated from ongoing operations, is expected to provide liquidity to meet business obligations throughout the court-supervised process. In addition, as part of the company's reorganization plan, Retriever has also committed to provide exit financing. The plan of reorganization is subject to approval by the U.S. Bankruptcy Court for the District of Delaware.
Wag! Group announces sale of Furscription to MWI Veterinary Supply
Wag! Group has simultaneously entered into a definitive agreement and completed the sale of its Furscription business to MWI Veterinary Supply. Under the terms of the Agreement, Furscription was sold to MWI for cash considerations. The transaction includes the Furscription brand, e-prescribing technology and related assets. In addition, four Wag! employees are joining MWI as part of the transaction, which closed on July 14th, 2025. Proceeds from the transaction will be used to pay down outstanding debt.
Wag! Group sees FY25 revenue $84M-$88M
Adjusted EBITDA in the range of $2.0 million to $4.0 million.
Wag! Group reports Q1 EPS (10c) vs. (11c) last year
Reports Q1 revenue $15.2M vs. $23.2M last year."We are pleased to begin 2025 with results slightly ahead of our expectations on profitability and in line with expectations on revenue," said Garrett Smallwood, CEO and Chairman of Wag!. "This quarter's performance reflects the benefits of our disciplined cost management, operational streamlining and continued focus on higher-return initiatives. We're also encouraged by the early traction we're seeing from our newly launched distribution partnerships and the strength of business trends through April and into May. As we continue to evaluate all strategic options in partnership with our Board, we remain focused on delivering long-term value for our shareholders."
Wag! Group sees FY25 revenue $84M-$88M
Sees adjusted EBITDA in the range of $2M to $4M
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