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GlobeNewswire·

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

BARK
  • GNK Holdings LLC & Marcus Lemonis submitted a preliminary, non-binding indication to acquire BARK, Inc. in an all-cash transaction valued at $1.10 per share.
  • The proposed deal implies an enterprise value of approximately $188.7 million, representing a 22% premium over Great Dane Ventures' earlier proposal.
  • The Group intends to acquire all outstanding BARK shares not already held by its members, subject to customary conditions & confirmatory due diligence.
  • Financing for the transaction will be secured through equity capital & debt.
  • The timeline anticipates completing confirmatory diligence within 30 days & executing definitive agreements within five weeks.
  • GNK Holdings is led by President Nachum Klugman, who cited strong conviction in BARK's brand, customer loyalty, & long-term potential.
  • Haynes and Boone, LLP serves as legal counsel, while Palladium Capital Group, LLC assists with financing & transaction analysis.
  • The proposal is non-binding & subject to definitive agreements, due diligence completion, customary approvals, & satisfactory financing availability.
  • GNK Holdings is a private investment firm focused on consumer & retail investments with an emphasis on operational value creation.
  • The release includes forward-looking statements regarding the transaction that are subject to risks & uncertainties.