BARK and Northern Star Acquisition Corp. announce the closing of the merger
NEW YORK, June 1, 2021 / PRNewswire / – Barkbox, Inc. (“BARK” or the “Company”), the leading global brand for dogs, today announced that it has completed its previously announced merger with Northern Star Acquisition Corp. (“Northern Star”) (NYSE: STIC), a publicly traded special purpose acquisition company. The transaction, which was approved by Northern Star shareholders at its annual meeting of shareholders held on May 28, 2021, resulted in the rebranding of the combined company “The Original BARK Company”, with its common stock and warrants to begin trading on the New York Stock Exchange when trading opens on June 2, 2021 under the new ticker symbols “BARK” and “BARK WS”, respectively.
In connection with the merger and related private placement, BARK received approximately $ 427 million cash. The funds are expected to be used to expand BARK’s food, household and health product lines, fuel the continued growth of its toy and treat subscription services, improve cross-selling opportunities and reach new customers nationally and internationally. abroad.
Manish Joneja, CEO of BARK, said: “This is a special day for BARK and our passionate employees as we enter public markets and continue to fulfill our mission of making all dogs happy with the best products, services and content. The closing of our merger with Northern Star provides us with the platform to bring our popular BarkBox and Super Chewer subscription lines to even more customers, while developing our new high potential BARK Eats, BARK Bright and BARK Home initiatives. deep and personalized relationships with dogs and their parents, we believe that BARK will continue to gain significant market share and become synonymous with all things dogs around the world. “
Mr. Joneja will serve as CEO and lead the combined company alongside BARK founders Matt Meeker, Henrik werdelin and Carly Strife. Mr. Meeker will serve as Executive Chairman and President and Chief Executive Officer of Northern Star. Joanna coles, a creative media and technology executive, and president and chief operating officer Jonathan ledecky, a seasoned executive with over 35 years of investment and operating experience, will serve on the board of directors of the combined company.
Ms Coles said, “The global pet care industry presents a massive and rapidly expanding market opportunity, but remains in the early stages of innovation and disruption. BARK, with its unmatched customer engagement, vertically integrated, data-driven product development, and omni channel selling approach, including subscription services and retail partnerships, is ideally positioned. to take advantage of this opportunity. We are extremely proud of the company’s talented and execution-oriented team and are confident in BARK’s ability to create long-term shareholder value while making the world a happier and healthier place to. dogs. “
To celebrate the completion of the merger, members of BARK’s management team will ring the opening bell on the New York Stock Exchange at 9:30 a.m. ET Wednesday, June 2, 2021. A live broadcast of the event and a replay can be accessed by visiting https://www.nyse.com/bell.
Citigroup acted as the sole financial and capital markets advisor to Northern Star. Citigroup acted as the exclusive placement agent for Northern Star in connection with the PIPE offer.
Canaccord Genuity acted as financial advisor to BARK.
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisers to BARK. Graubard Miller acted as legal counsel to Northern Star.
BARK is the most dog-centric company in the world, dedicated to making dogs happy with the best products, services and content. The dog-obsessed BARK team apply their unique, data-driven understanding of what makes each dog special to design playstyle-specific toys, treats and wellness supplements that are hugely satisfying, and dog-first experiences that promote health and happiness in dogs everywhere. Founded in 2012, BARK faithfully serves dogs nationwide with monthly subscription services, BarkBox and Super Chewer; an e-commerce experience organized on BarkShop.com; personalized collections through its network of retail partners, including Target and Amazon; wellness products that meet the needs of your dogs with BARK Bright; and a personalized meal delivery service for dogs Bark eats. At BARK, we want to be the people our dogs think we are and we promise to be their voice until each dog reaches their full tail wagging potential. Sniff at bark.co for more information.
This announcement contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding the benefits of the transaction, the services offered by BARK and the markets in which it operates, and the future results projected by BARK. These forward-looking statements are generally identified by the words “believe”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “the strategy”, “the future”, ” opportunity ”,“ plan, “may”, “should”, “will”, “would”, “will”, “will continue”, “will probably result” and similar expressions. Forward-looking statements are predictions, projections and other statements regarding future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. There are many factors that could cause actual future events to differ materially from the forward-looking statements contained in this announcement, including, but not limited to, changes in domestic and foreign business, business, financial, political and legal conditions. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to: failure to realize the expected benefits of the merger; risks related to the uncertainty of projected financial information concerning BARK; the risk that pet expenses will not increase at projected rates; that BARK subscriptions cannot increase their spending with BARK; BARK’s ability to continue to convert social media followers and contacts into customers; BARK’s ability to successfully develop its product lines and distribution by channel; competition; the uncertain effects of the COVID-19 pandemic; and the factors discussed in Northern Star documents filed, or to be filed by BARK, with the SEC. If any of these risks materialize or if our assumptions prove to be incorrect, actual results could differ materially from the results suggested by these forward-looking statements. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in forward-looking statements. Forward-looking statements speak only as of the date on which they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and BARK assumes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. BARK gives no assurance that he will meet his expectations.
For Northern Star Acquisition Corp.
Jonathan gasthalter/Nathaniel Garnick/Sam fisher
Gasthalter & Co.
SOURCE BARK and Northern Star Acquisition Corp.