QUANTUMONLINE.COM SECURITY DESCRIPTION:  2020 Mandatory Exchangeable Trust 144a Preferred Shares

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
OTOTCn OTOTCps	6.50% $65	$1,000.00 n.a.	n.a. 5/16/2023	-  -  -	n.a. Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

Notes:  May 5, 2020 /PRNewswire/ -- PetSmart, Inc. ("PetSmart") today announced that the 2020 Mandatory Exchangeable Trust (the "Trust"), a Delaware statutory trust, has priced the offering of its 2020 Mandatory Exchangeable Trust Securities (the "Trust Securities") exchangeable into Class A common stock, par value $0.01 per share, of Chewy, Inc. (the "common stock") in a private placement to investors that are both qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and qualified purchasers as defined in Section 2(a)(51) of the Investment Company Act of 1940, as amended, and the rules thereunder (the "Investment Company Act") for purposes of Section 3(c)(7) of the Investment Company Act for an aggregate purchase price of $600 million. The Trust also granted the initial purchasers of the Trust Securities an option to purchase up to an additional $90 million aggregate purchase price of its Trust Securities. At the closing of the transaction, which is expected to occur on May 11, 2020, the Trust will enter into a variable forward purchase agreement with Buddy Chester Sub LLC (the "Seller"), a wholly owned subsidiary of PetSmart. At the closing of the offering of the Trust Securities, the Trust will pay to the Seller the net proceeds received from the issuance of the Trust Securities, excluding amounts in respect of the Trust's expenses and amounts used by the Trust to purchase U.S. Treasury securities, which will fund quarterly distributions on the Trust Securities. PetSmart intends to use the net proceeds received under the variable forward purchase agreement to repay outstanding debt. The Trust Securities will pay quarterly distributions of $16.25 (or $17.15 on August 16, 2020) per Trust Security (there will be 600,000 Trust Securities outstanding, or 690,000 if the initial purchasers exercise their option to purchase additional Trust Securities in full). At the exchange date, which is expected to be May 16, 2023, the Trust will exchange each Trust Security for a certain number of shares of common stock between 21.2368 and 25.4842 per Trust Security determined by reference to the trading price of the common stock at that time or, subject to the Seller's election, cash or a combination of cash and common stock. Under certain circumstances, the Trust Securities may be exchanged prior to the scheduled exchange date.

Company's Online Information Links

HOME PAGE:     http://www.chewy.com
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Company's Online SEC EDGAR Filings

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Company's Email Address Links

Email Address	ir@chewy.com
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Address and Phone Numbers

Address:   1855 Griffin Road, Suite B-428, Dania Beach, FL 33004
Main Phone Number	786-320-7111
Fax Number	Not Available
Investor Contact	786-320-7111

CEO - Sumit Singh

CFO - Mario Marte