PetMed Express, Inc. ("PetMeds" or the "Company") (NASDAQ:PETS) today confirmed that its Board of Directors (the "Board") has received an unsolicited, non-binding, and conditional proposal from SilverCape Investments Limited ("SilverCape") to acquire all outstanding shares of the Company’s common stock for $3.00 per share in cash, following SilverCape’s prior unsolicited, non-binding, and conditional proposal of $4.00 per share made on December 11, 2025.