BARK, Inc. (NYSE: BARK) disclosed on January 9, 2026 that its board has received a preliminary, non‑binding indicative take‑private proposal from Great Dane Ventures, LLC, a consortium of the company’s current shareholders. The proposal, filed in a Schedule 13D on January 2, 2026, offers to purchase all outstanding common shares not already owned by the group in an all‑cash transaction at $0.90 per share, representing a premium of roughly 45 % over the company’s trading price on the day of the announcement and about 59 % over the closing price on the preceding Thursday.
The proposal is being evaluated by a special committee of independent directors, who will engage independent financial and legal advisors to assess the offer’s fairness. BARK’s board has not yet made a decision and has emphasized that the proposal is preliminary and non‑binding, meaning no definitive agreement has been reached and the transaction could still be withdrawn.
BARK’s recent financial performance has been mixed. Fiscal year 2024 revenue totaled $484.18 million, a 1.22 % decline from the prior year, while the fourth quarter of 2025 generated $115.4 million, down 5.0 % year‑over‑year. In contrast, the first quarter of 2025 revenue of $102.9 million beat forecasts, and the second quarter of 2026 revenue of $107.0 million exceeded guidance. Direct‑to‑consumer (DTC) revenue fell in Q2 2026 due to a reduction in subscription renewals, and gross margin contracted to 57.9 % from 60.4 % a year earlier. The company’s Commerce segment has shown resilience, and BARK Air revenue has risen, reflecting growth in the travel‑service line. Financially, BARK’s Altman Z‑Score of –0.14 places it in the distress zone, its debt‑to‑equity ratio stands at 0.96, and its current ratio of 1.52 indicates moderate liquidity.
If the proposal is accepted, BARK would become a privately held company, likely resulting in delisting from the New York Stock Exchange. The $0.90 per share offer would provide immediate liquidity to shareholders and could free management from the pressures of public market scrutiny, allowing a focus on long‑term initiatives such as expanding BARK Air and optimizing the DTC platform. The insider nature of the proposing group—led by CEO and Executive Chairman Matt Meeker—necessitates the independent committee to safeguard minority shareholders’ interests.
The announcement has prompted heightened attention from investors, who view the premium offer as a potential exit strategy amid BARK’s financial challenges. The board’s forthcoming assessment will determine whether the offer aligns with shareholder value and the company’s strategic trajectory.
BARK’s board will continue to evaluate the proposal and will provide an update once a decision has been reached. Until then, the company remains in a state of uncertainty regarding its future ownership structure and strategic direction.
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