BARK Special Committee Has Provided Clear Guidance To Parties Interested In Acquiring BARK; Has Requested Meetings With Principals Of Both Great Dane Group And GNK / Lemonis Group; Is Reviewing All Proposals As Well As Evaluating Company's Standalone Value
Benzinga Newsdesk 8 months ago
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BARK, Inc. (NYSE:BARK) ("BARK" or the "Company"), a leading global omnichannel dog brand with a mission to make all dogs happy, today announced that the special committee (the "Special Committee") of the Company's Board
BARK, Inc. (NYSE:BARK) ("BARK" or the "Company"), a leading global omnichannel dog brand with a mission to make all dogs happy, today announced that the special committee (the "Special Committee") of the Company's Board of Directors has provided clear guidance to parties interested in acquiring BARK.
The Special Committee, consisting of independent and disinterested directors, is focused on maximizing value for all BARK stockholders, and is reviewing all proposals as well as evaluating the Company's standalone value with the assistance of its independent financial and legal advisors. The Special Committee is committed to managing an orderly process that does not disrupt or harm the business and that protects the value of the Company's proprietary information.
Regarding its process, the Special Committee noted:
- It is evaluating all proposals in totality, including the conditionality of any potential transaction and availability of committed debt and equity financing;
- In order to receive any non-public diligence information, any party will be required to enter into confidentiality agreements with market-standard provisions, including a customary standstill; and
- The Special Committee will take the appropriate time to properly assess all proposals and strategic alternatives and to conduct a thorough and deliberate process focused on maximizing value for all BARK stockholders.
There can be no assurance that any definitive offer will be made, that any definitive agreement will be executed relating to the proposals or that any proposed transaction or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to the proposals received or any other transaction or proposal, except as required under applicable law.