PetMed Express Confirms $4 Per Share Bid From SilverCape Investments

(RTTNews) - PetMed Express, Inc.(PETS), operating as PetMeds and parent company of PetCareRx, confirmed that it has received an unsolicited, non-binding proposal from SilverCape Investments Limited, a Singapore-based investment firm.

The proposal seeks to acquire all outstanding PetMeds shares for $4 per share in cash. It is subject to conditions, including due diligence and negotiation of a definitive agreement, but it does not include a financing contingency.

PetMeds noted that although it would not normally comment on private, non-binding approaches, SilverCape disclosed the proposal publicly in an amended Schedule 13D filed with the U.S. Securities and Exchange Commission on December 11, 2025.

The company's Board of Directors, with guidance from financial and legal advisors, will evaluate the proposal in line with its fiduciary obligations to determine the best path forward for the company and its shareholders. PetMeds added that the letter from SilverCape does not constitute a formal offer, and shareholders are not required to take any action at this time.

PETS currently trades at $3.1382 or 77.2994% higher on the NasdaqGS.