GNK Holdings Submits Preliminary, Non-Binding Indication Of Interest To Acquire BARK In All-Cash Transaction Valued At $1.10 Per Share

GNK Holdings LLC, together with Marcus Lemonis (collectively, the "Group"), today announced that they have submitted a preliminary, non-binding indication of interest to acquire BARK, Inc. (NYSE:BARK) ("BARK" or the "Company") in an all-cash transaction valued at $1.10 per share.

The proposed transaction would value BARK at an implied enterprise value of approximately $188.7 million, 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