Chewy Inc. bounced in New York trading on Tuesday after a person familiar with the matter said BC Partners, its private-equity sponsor, sold about $500 million of the stock in an overnight block trade.
The unregistered trade of 6.1 million shares was priced at $82.50 each through Morgan Stanley, the person said. That was a 1.8% discount to Monday’s close. Chewy fell by as much as 2.1% in premarket trading, but finished the regular session up 4%.
