GNK Holdings Proposes to Acquire BARK at $1.10 per Share

GNK Holdings LLC, together with Marcus Lemonis, announced that they have submitted a preliminary, non-binding indication of interest to acquire BARK, Inc. in an all-cash transaction valued at $1.10 per share. The proposed transaction would value BARK at an implied enterprise value of approximately $188.7M, representing a 22% premium to the previously announced proposal by Great Dane Ventures, LLC. Under the terms of the GNK proposal, the Group would acquire all outstanding shares of BARK not already owned by members of the Group, subject to customary conditions and confirmatory due diligence. Proposed Transaction Highlights: All-cash consideration of $1.10 per share; Financed through equity capital and debt; Accelerated and highly certain timeline, with confirmatory diligence expected to be completed within approximately 30 days; Target execution of definitive agreements within approximately five weeks, subject to customary conditions. "This proposal reflects our strong conviction in BARK's brand, customer loyalty, and long-term potential," said Nachum Klugman, President of GNK Holdings. "With aligned capital, experienced leadership, and a clear operational playbook, we believe this transaction delivers compelling and certain value for BARK shareholders." The Group has engaged Haynes and Boone, LLP as legal counsel and Palladium Capital Group, LLC to assist with financing, transaction diligence, and capital structure analysis. The proposal is non-binding and subject to the negotiation and execution of definitive transaction documents, completion of due diligence, and customary approvals. There can be no assurance that any definitive agreement will be entered into or that any transaction will be consummated. Any potential transaction would be subject to the availability of financing on terms satisfactory to the Group. There can be no assurance that such financing will be available on acceptable terms or at all.