Pet services marketplace Wag (PET) stock slipped 7% Wednesday during its market debut following its merger with SPAC CHW Acquisition Corp. ( NASDAQ: CHWA ) in late July.
Shares of Wag opened at $7.70, reaching a low of $7.25 in early trading before climbing to a high of $10 mid-morning. The stock recently changed hands at $7.68 at approximately 12:30 p.m. ET. It closed at $8.28 on Tuesday.
CHWA shareholders voted in favor of the merger on July 29. The deal, which was originally announced in early February, pegged the equity and enterprise value of the combined company at around $350M.
The companies announced the closing on the deal on Tuesday.
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Pet services marketplace Wag sees stock slide 7% in market debut