Globenewswire·2026-02-11 14:40Core Viewpoint - GNK Holdings LLC and Marcus Lemonis have proposed an acquisition of BARK, Inc. at $1.10 per share, representing a 22% premium over a competing offer from the CEO valued at $0.90 per share [2][3]. Group 1: Acquisition Proposal - The Group submitted a non-binding indication of interest to acquire BARK in an all-cash transaction valued at $1.10 per share on January 14, 2026 [1]. - This proposal reflects a 22% premium over the CEO's competing offer of $0.90 per share announced on January 9, 2026 [2]. Group 2: Special Committee Formation - BARK announced the formation of a Special Committee on January 9, 2026, to review and evaluate acquisition proposals, including the Group's offer [3]. - The Special Committee has retained legal and financial professionals to assist in this evaluation process [3]. Group 3: Communication Issues - The Group has expressed frustration over the lack of substantive discussions regarding their proposal, claiming the Company has ignored their offer and attempted to impose a non-disclosure agreement [4][5]. - The proposed NDA includes terms that the Group finds unacceptable, including a "standstill" agreement that would limit their ability to make public offers or influence Company management [6]. Group 4: Public Disclosure and Shareholder Value - The Group intends to publicly announce their acquisition interest and believes their proposal maximizes shareholder value, which is a key responsibility of the Special Committee [7][8]. - There has been no indication from the Board regarding the rejection of the CEO's lower offer, raising concerns about transparency [8].