PetMed Express receives $3 per share acquisition proposal

• PetMed Express (NASDAQ:PETS) received an unsolicited, non-binding proposal from SilverCape Investments to acquire all outstanding shares for $3 per share in cash.
• The Board will evaluate the proposal with advisors but has made no determination and cautions no assurance of any transaction.
• This follows a prior $4.00 per share proposal from December 2025.

PetMed Express (NASDAQ:PETS) confirmed receipt of an unsolicited, non-binding and conditional proposal from SilverCape Investments to acquire all outstanding shares for $3.00 per share in cash.

The Board, advised by financial and legal advisors, will evaluate the latest proposal but has made no determination and cautions there is no assurance any transaction will occur.

The Board is prepared to engage with SilverCape once it executes a customary nondisclosure agreement with a standstill.

PetMed Express continues to consider any credible value-maximizing proposal while focusing on core operations and long-term stockholder value.

The company operates an online pet pharmacy providing prescription and non-prescription medications, health and wellness products, and pet supplies to pet owners across the United States.