Shares are being priced at $22 per share, which is higher than the expected range of $19-$21.
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Chewy was valued at $8.77 billion after more stock was sold than originally planned, as the company is proving to be popular among investors favoring the trend of "humanizing" pets among families.
However, as with other IPO names in 2019, Chewy only has registered net losses from operating activities thus far.
The path to profitability is somewhat uncertain as well in light of the sporadic nature of the losses incurred in recent years. Chewy reported a net loss of $107.2 million in 2016, $338.1 million in 2017 and $267.9 million in 2018.
"We have a history of losses and have accumulated $1.6 billion in stockholders' deficit since our inception through February 3, 2019," the company said in its S-1 filing. "We expect our operating losses to continue in the near term as we increase investment in our business. Furthermore, it is difficult for us to predict our future results of operations."
For more in-depth coverage on all things Chewy get over to Real Money.com, where Kevin Curran breaks down what numbers investors need to know.