Wag! Group files Chapter 11, pre-packaged plan transfers ownership to Retriever LLC

Wag! Group Co.

Filed Chapter 11 on July 21, 2025; expects emergence within ~40 days.
Retriever LLC to get 100% of reorganized company's common stock; all existing equity canceled.
DIP financing of up to $6.5M at 15% interest and exit facility of up to $18.3M committed by Retriever.
~$16.3M term loan default triggered by filing but stayed under Bankruptcy Code.
Nasdaq non-compliance noted; entire board to resign on effective date.

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