M&A - Wag! Group Co.

Form Type: 8-K

Filing Date: 2025-07-15

Corporate Action: Acquisition

Type: New

Accession Number: 000184235625000088

Filing Summary: On July 14, 2025, Wag Labs, Inc. and Wag! Group Co. entered into an asset purchase agreement with MWI Veterinary Supply Co. MWI acquired Wag Labs' veterinary e-prescription software and business known as Furscription for $5,000,000 in cash, $500,000 of which is being held back for potential indemnification obligations. The assets sold include contracts, software, equipment, accounts receivable, employees, and intellectual property related to the business. The proceeds from the sale are intended to repay indebtedness to Retriever LLC, a secured creditor. Additionally, the Company's ongoing negotiations with Retriever may help satisfy its obligations under a financing agreement, but there is no assurance that such negotiations will be successful or that the Company will avoid bankruptcy. The document includes references to customary terms of the asset purchase agreement and a caution on relying solely on contractual representations as these may not reflect the actual state of facts after the agreement's execution.