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Barkbox, Inc. has completed its merger with Northern Star Acquisition Corp. (NYSE: STIC), resulting in the formation of The Original BARK Company, effective June 1, 2021. The merger was approved by Northern Star's stockholders on May 28, 2021, with trading under the new ticker 'BARK' commencing on June 2, 2021. BARK raised approximately $427 million in cash proceeds, which will be used for product line expansions and growth initiatives. The company aims to strengthen its market position in the global pet care industry, leveraging its subscription services and product offerings.
Northern Star Acquisition Corp. (NYSE: STIC) announced that its stockholders approved the proposed merger with Barkbox, Inc. (BARK) during its Annual Meeting on May 28, 2021. The merger will close on June 1, 2021, with the new company trading on the NYSE under the name "The Original BARK Company" starting June 2, 2021. Joanna Coles, CEO of Northern Star, expressed gratitude to shareholders and highlighted Bark's strong growth and preliminary financial results for the fourth quarter and fiscal year. Further details will be disclosed in a Current Report on Form 8-K.
Northern Star Acquisition Corp. (NYSE: STIC) reported strong preliminary financial results for its merger partner, Barkbox, Inc. (BARK), highlighting a 79% increase in revenue to $112.2 million for Q4 2021. Fiscal year revenue climbed 68.8% to $378.6 million, with subscription shipments rising 52.5%. BARK maintained a gross margin of 59.7%, although net loss was $(31.4 million). The company affirmed its revenue forecast of $516 million for FY 2022.
Northern Star Acquisition Corp. (NYSE: STIC) announced that its merger partner, Barkbox, Inc. (BARK), will release its financial results for Q4 and the fiscal year ending March 31, 2021, before market opens on May 18, 2021. Management will host a conference call at 6:30 a.m. ET that day to discuss the results. Participants can join the call by dialing a provided number or via a live webcast. Barkbox is focused on dog products, offering services like BarkBox and Super Chewer, while Northern Star is a special purpose acquisition company with a diverse management team.
Northern Star Acquisition Corp. (NYSE: STIC) announced that its Annual Meeting of Stockholders will occur on May 28, 2021, to vote on the merger with Barkbox, Inc. (BARK). Stockholders eligible to vote are those recorded as of April 5, 2021. The U.S. SEC has declared effective the Registration Statement for the merger, which includes a definitive proxy statement. Joanna Coles, CEO of Northern Star, expressed enthusiasm about Bark's strong customer engagement and brand recognition. Bark's CEO, Manish Joneja, highlighted continued growth during the merger process, aiming to expand into food and wellness products.
Barkbox, Inc. (BARK) will participate in the Canaccord Genuity eCommerce Sustainable Advantage Forum on March 24, 2021, at 12:30 PM ET. Co-founders and executives, including Matt Meeker and Manish Joneja, will present a fireside chat. The event can be accessed live via webcast. Additionally, Barkbox is set to complete its merger with Northern Star Acquisition Corp. (NYSE: STIC) in early Q2 2021, pending stockholder approval. The combined company will trade under the new ticker symbol 'BARK' post-merger.
Barkbox announced participation in the 33rd Annual Roth Conference on March 15, 2021, featuring a fireside chat led by key executives including Co-founder Matt Meeker and CEO Manish Joneja. The virtual event expects over 5,000 attendees from various sectors. Barkbox is set to complete its merger with Northern Star Acquisition Corp. (NYSE: STIC) in early Q2 2021, contingent on stockholder approval, and will trade under the new symbol 'BARK.' This merger positions Barkbox to enhance its offerings in the pet products market.
Northern Star Acquisition Corp. (NYSE: STIC) announced its merger with Barkbox, Inc. (BARK), revealing preliminary fiscal results for the third quarter and nine months ended December 31, 2020. Preliminary revenue reached $266 million, reflecting a 65% increase year-over-year. The third quarter revenue alone saw a 78% growth to an estimated $105 million. Despite net losses, Adjusted EBITDA improved from $(17) million to $(8) million, with a margin rise from -10% to -3%. The merger, awaiting shareholder approval, is projected to close in Q2 2021, aiming to facilitate Barkbox's growth plans.
BARK, a leading global brand for dogs, has expanded its senior leadership team as it approaches a merger with Northern Star Acquisition Corp (NYSE: STIC). Rustin Richburg has been appointed as Chief People Officer, aimed at strengthening HR operations, while Matt Miller joins as General Counsel, overseeing legal and compliance aspects. CEO Manish Joneja emphasized that these additions will enhance BARK's momentum in serving more dogs and their families, positioning the company for continued success.
Barkbox and Northern Star Acquisition Corp. (NYSE: STIC) are set to host a webinar on February 3, 2021, at 2:00 PM ET to discuss their proposed merger. The merger, announced on December 17, 2020, is expected to close in Q2 2021, with an implied enterprise value of approximately $1.6 billion. Following the merger, the combined company will trade under the new ticker symbol 'BARK' and anticipates gross cash proceeds of up to $454 million.
