GNK Holdings and Marcus Lemonis Submit $1.10 Per Share Non-Binding Proposal to Acquire BARK, Inc.

Core Viewpoint - GNK Holdings LLC, along with Marcus Lemonis, has submitted a preliminary, non-binding indication of interest to acquire BARK, Inc. for $1.10 per share in an all-cash transaction valued at approximately $188.7 million, representing a 22% premium over a previous proposal by Great Dane Ventures, LLC [1][2]. Company Overview - BARK, Inc. is being targeted for acquisition due to its strong brand and customer loyalty, with the Group believing it presents a compelling opportunity for value creation through improved operational execution and customer engagement [3][5]. - GNK Holdings LLC is a private investment firm focused on consumer and retail investments, emphasizing operational value creation and disciplined capital deployment [6]. Proposed Transaction Details - The proposed acquisition values BARK at an implied enterprise value of around $188.7 million, with the offer of $1.10 per share representing a 22% premium [2]. - The transaction is subject to customary conditions, confirmatory due diligence, and the negotiation of definitive agreements, with an accelerated timeline for completion expected within approximately 30 days [8]. - Financing for the transaction will be sourced through equity capital and debt [8].