newsfilter
← Latest News
PR Newswire·

Shay Capital Letter to the Board of Bark, Inc.

BARK
  • Eric Ebert of Shay Capital, a major shareholder, wrote to the BARK, Inc. Board of Directors urging immediate action to maximize shareholder value despite the company's strong adjusted EBITDA positivity & disciplined growth.
  • The shareholder highlighted that BARK's liquid assets & inventory totaling $183 million create an equity value of approximately $150 million, which exceeds the current market capitalization of $137 million.
  • The letter demands the Board authorize a minimum $25 million share buyback program to repurchase stock at depressed prices & correct the company's negative equity trading status.
  • Shay Capital urges the immediate deployment of inventory financing against the $98 million in paid-for inventory to unlock trapped capital for high-ROI growth initiatives.
  • The shareholder called for strategic expansion into new product categories including vitamins, supplements, & DNA testing kits to monetize the company's proprietary dataset of over 6 million dogs.
  • The letter emphasizes that hesitation is unforgivable & requests concrete progress on the buyback & inventory financing be announced within the coming weeks.