PR Newswire·Sep 15, 2026, 9:00 AM ET

GNK Holdings Issues Open Letter to BARK Shareholders Calling for Greater Accountability and a Clear Path to Shareholder Value

GNK Holdings LLC issued an open letter to BARK, Inc. shareholders highlighting a significant divergence between its rejected $22.00 per-share split-adjusted cash offer and BARK's current market price.
GNK's original proposal of $1.10 per share represented a 22% premium over a prior $0.90 per share offer from a group including BARK's CEO and Executive Chairman.
BARK's Special Committee rejected GNK's proposal, stating the offer did not reflect the company's value and that executing a standalone strategy was the best path to maximize long-term shareholder value.
As of September 14, 2026, BARK's shares closed at $9.19 per share, trading approximately 58% below the $22.00 split-adjusted value offered by GNK.
GNK Holdings expressed frustration with the Board's stewardship, arguing that rejecting the cash offer resulted in substantial value destruction for shareholders.
The firm is calling for accountability, demanding an explanation from the Board on how rejecting the $22.00 offer aligned with maximizing shareholder value.
GNK Holdings stated it intends to evaluate all available avenues to protect its investment and advocate for the interests of BARK shareholders.
The communication includes standard disclosures noting the proposal was preliminary, non-binding, and does not constitute a current offer to purchase securities.