GNK Exploring a Meaningful Investment in BARK Following Frustration With the Pace of Shareholder Value Creation
Shareholders Invited to Submit Non-Binding Indications of Interest by October 9, 2026
STONY POINT, N.Y., Sept. 25, 2026 /PRNewswire/ -- GNK Holdings LLC ("GNK"), a shareholder of BARK, Inc. ("BARK" or the "Company"), today announced that it is evaluating a potential cash tender offer to acquire shares of BARK common stock at a price of $11.00 per share in cash.
As part of its evaluation, GNK is seeking non-binding indications of interest from BARK shareholders to better understand the potential level of participation in a transaction at that price.
GNK believes BARK has a valuable and widely recognized brand, meaningful assets and significant long-term potential. However, GNK has become extremely frustrated with what it views as the lack of meaningful progress in creating shareholder value and the pace at which the Company has sought to unlock its potential.
GNK has followed BARK closely for an extended period and previously demonstrated its conviction in the Company's potential through its proposal to acquire the Company. GNK continues to believe there are meaningful opportunities to enhance shareholder value.
Given GNK's frustration with the Company's current direction and the pace of progress, GNK is now exploring the possibility of becoming a meaningful shareholder of BARK, with the objective of having a greater ability to positively impact the Company's future direction and advocate for actions that GNK believes could enhance long-term shareholder value.
As part of evaluating whether to commit substantial additional capital to BARK, GNK is considering a potential cash tender offer at $11.00 per share.
Before determining whether to proceed with a formal tender offer, GNK is seeking to better understand the number of shares that BARK shareholders may be interested in selling at that price.
NON-BINDING INDICATIONS OF INTEREST
BARK shareholders who may be interested in selling some or all of their shares at $11.00 per share in cash in a potential future tender offer are invited to submit a non-binding indication of interest identifying the approximate number of shares they may be interested in selling.
Non-binding indications of interest must be received by October 9, 2026.
Shareholders should send their indication of interest to [email protected] and include their name or entity name, contact information, approximate number of BARK shares currently owned, and approximate number of BARK shares they may be interested in selling at $11.00 per share in cash.
The indication-of-interest period relates solely to GNK's collection of non-binding indications of interest and is not the duration of any tender offer.
Submitting an indication of interest does not constitute a tender of shares, does not constitute a commitment to participate in any future tender offer and does not obligate either the shareholder to sell shares or GNK to purchase shares.
Shareholders should not send stock certificates, brokerage instructions or any other means of transferring or tendering shares.
GNK intends to use the information received to assist it in determining whether there is sufficient potential participation to justify proceeding with a formal tender offer and, if so, the potential size, structure and other terms of such an offer.
GNK has not made a final determination to commence a tender offer, and there can be no assurance that a tender offer will be commenced or, if commenced, as to its ultimate terms or completion.
IMPORTANT INFORMATION REGARDING THE POTENTIAL TENDER OFFER
NO TENDER OFFER HAS COMMENCED.
This press release is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell any securities of BARK. BARK shareholders are not being asked to tender their shares at this time.
If GNK determines to commence a tender offer, the offer will be made only pursuant to formal tender-offer materials filed with the U.S. Securities and Exchange Commission (the "SEC"), including an Offer to Purchase, related Letter of Transmittal and other applicable tender-offer documents.
BARK SHAREHOLDERS ARE STRONGLY ADVISED TO READ ANY TENDER-OFFER MATERIALS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF ANY TENDER OFFER.
If a tender offer is commenced, shareholders will be able to obtain copies of the tender-offer materials free of charge through the SEC and through any other means described in the tender-offer materials.
This press release does not constitute a recommendation regarding whether any shareholder should sell, hold or otherwise take any action with respect to BARK securities.
GNK'S OWNERSHIP AND FUTURE TRANSACTIONS
GNK currently beneficially owns shares of BARK common stock.
GNK may, from time to time and subject to applicable law, purchase additional shares of BARK common stock or sell some or all of the shares it beneficially owns, whether in the open market, in privately negotiated transactions or otherwise.
Any such transactions will depend on a variety of factors, including market conditions, the trading price of BARK common stock, developments relating to BARK, GNK's investment objectives, applicable securities laws and other considerations.
Nothing in this press release should be interpreted as a commitment by GNK to acquire additional shares, maintain any particular ownership level, commence a tender offer or refrain from purchasing or disposing of BARK securities, except as may be required by applicable law.
GNK's ownership of BARK securities and any material changes to its investment intentions will be disclosed as required under applicable securities laws and SEC rules.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, including statements regarding GNK's consideration of a potential tender offer, its potential acquisition of additional BARK shares, its intentions regarding its investment in BARK and its views regarding opportunities to enhance shareholder value.
Forward-looking statements are based on GNK's current expectations, beliefs and assumptions and are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied.
There can be no assurance that GNK will commence a tender offer, acquire any particular number of shares, increase its ownership to any particular level, or successfully implement any initiative with respect to BARK.
GNK undertakes no obligation to update any forward-looking statements except as required by applicable law.
HOW TO SUBMIT A NON-BINDING INDICATION OF INTEREST
BARK shareholders interested in submitting a non-binding indication of interest should email: [email protected]and provide their name or entity name, contact information, approximate number of BARK shares currently owned, and approximate number of shares they may be interested in selling at $11.00 per share in cash.
Deadline: October 9, 2026
Submitting this information is voluntary and non-binding. Shareholders should not send stock certificates, brokerage instructions or any other means of transferring or tendering shares.
MEDIA CONTACT
Nachum Klugman
President, GNK Holdings LLC
[email protected]
SOURCE GNK Holdings LLC
