Activist Investor Slams PetMed Board For 'Stunning Destruction' Of Shareholder Value

PetMed Express, Inc. (NASDAQ: PETS ) stock is trading higher on Monday following the public release of a revised acquisition proposal from SilverCape Investments Limited. Revised Acquisition Proposal Details For PetMed Express SilverCape, a Singapore-based single-family office and activist investor that owns about 12% of PetMed Express, released an open letter to the company’s board of directors. The revised proposal outlines a cash acquisition of all outstanding shares of common stock for $3 per share with no financing contingency.

76 on Friday. Financial Performance And Going Concern The revised bid follows an original $4 per share cash proposal made by SilverCape on December 11. 4 million in the last fiscal year. G.

Campbell, highlighting an alarming pattern of leadership instability, including the departure of two CEOs and CFOs within two years. SilverCape noted that the executive officer and board share ownership stands at just 2% according to the latest proxy statement, dropping below 1% when excluding the former CEO’s shares. 76 on June 26, 2026. The activist investor said deteriorating operations and poor governance make a sale of the company the best option for shareholders.

Demands For Strategic Alternatives SilverCape called on the board to engage in good-faith negotiations or run a structured, independent process to evaluate third-party options. 95 at the time of publication on Monday, according to Pro data. Photo via Shutterstock Read Also: Earnings Volatility Watch: Nike And 5 Stocks With The Biggest Implied Moves This Week