PetIQ Announces Stockholder Approval of Merger Agreement with Bansk Group

PetIQ, Inc. filed a Form 8-K report with the Securities and Exchange Commission on October 22, 2024, announcing significant developments regarding its proposed merger with Bansk Group LP. As part of the process, the company held a virtual special meeting of its stockholders on the same day to vote on various proposals outlined in PetIQ’s definitive proxy statement.

According to the filing, PetIQ, a leading pet medication, health, and wellness company, had entered into an Agreement and Plan of Merger with Gula Buyer Inc., Gula Merger Sub, and Bansk Group LP affiliates. This involves a merger whereby Merger Sub will merge with PetIQ, which will continue as the surviving corporation, wholly owned by Parent, an affiliate of Bansk Group LP.

During the Special Meeting, stockholders voted on several key proposals, including the adoption of the Merger Agreement, approval of compensation for named executive officers related to the Merger, and the proposal to adjourn the meeting if necessary for additional proxies. Notably, the Merger Agreement Proposal was approved by the stockholders.

The final voting results, as disclosed in the filing, showcased strong support for the Merger Agreement Proposal, with votes in favor significantly outweighing those against. As a result of the approval, the Adjournment Proposal was deemed unnecessary.

With the approval of the Merger Agreement, PetIQ anticipates proceeding with the merger, subject to customary closing conditions. In connection with the Special Meeting, PetIQ issued a press release on October 22, 2024, disclosing the results and the expected completion date of the Merger. The Company highlighted that upon completion of the transaction, PetIQ’s common stock will no longer be traded on the NASDAQ Stock Market.

The filing further mentioned that PetIQ anticipates closing the merger with Bansk Group on October 25, 2024, marking a crucial step forward in the acquisition process. The Company expressed enthusiasm about the approval of the proposed transaction and looked forward to fortifying its position in the pet healthcare sector through the partnership with Bansk Group.

The Form 8-K also contained details about the final voting results for each proposal and outlined the next steps in the merger process. PetIQ’s press release provided additional context, emphasizing the Company’s commitment to offering pet owners convenient and affordable access to pet healthcare products and services.

Investors are encouraged to review the definitive proxy statement and other relevant filings for additional information on the proposed transaction and associated risks. PetIQ’s management underlined that any forward-looking statements are subject to uncertainties beyond the Company’s control and may differ from actual outcomes.

For inquiries, PetIQ can be reached via the provided contact information in the press release attached as an exhibit to the Form 8-K filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read PetIQ’s 8K filing here.

About PetIQ

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.