GNK Holdings LLC, a private investment firm focused on consumer and retail, together with investor Marcus Lemonis, announced a non‑binding, all‑cash proposal to acquire all outstanding shares of BARK, Inc. (NYSE: BARK) at $1.10 per share, valuing the company at an implied enterprise value of roughly $188.7 million. The offer represents a 22 % premium over Great Dane Ventures’ earlier $0.90‑per‑share bid.
The proposal is contingent on customary conditions, including financing, regulatory approvals, and completion of due diligence. GNK Holdings plans to fund the transaction through a combination of equity and debt, while Lemonis brings his experience in turning around consumer brands.
BARK’s recent financial performance shows mixed results: Q2 FY2026 revenue of $107.0 million and a net loss of $10.7 million, compared with Q1 FY2026 revenue of $103 million and a positive adjusted EBITDA. The company has also become debt‑free after repaying a convertible note, improving its balance‑sheet profile.
The market reacted strongly to the higher offer, with BARK’s stock surging more than 64 % in the week preceding the announcement and rising 20.7 % in early trading on the day of the proposal. Analysts view the premium as evidence of a potential bidding war that could drive the acquisition price higher.
Management at BARK has not yet issued a formal response, but the board has formed a special committee to evaluate the Great Dane Ventures proposal and will likely consider the GNK Holdings offer as part of its fiduciary duty to maximize shareholder value.
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