Northern Star Acquisition Corp. Stockholders Approve Proposed Merger With BARK
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.
- Merger approval boosts Bark's public visibility and market access.
- Bark reported strong preliminary financial results for Q4 and the fiscal year.
- Projected financial performance remains uncertain due to market risks.
- Potential challenges in realizing anticipated benefits from the merger.
NEW YORK, May 28, 2021 /PRNewswire/ -- Northern Star Acquisition Corp. ("Northern Star") (NYSE: STIC), a publicly traded special purpose acquisition company, today announced that Northern Star's stockholders voted to approve its proposed merger with Barkbox, Inc. ("BARK" or the "Company"), the leading global brand for dogs, at its Annual Meeting of Stockholders held on May 28, 2021.
The merger is scheduled to close on June 1, 2021 and the common stock and warrants of the combined company, which will be renamed "The Original BARK Company", are set to commence trading on the New York Stock Exchange on June 2, 2021 under the new ticker symbols, "BARK" and "BARK WS", respectively.
"We are very pleased to reach this important milestone in the merger process and thank all shareholders for their support," said Joanna Coles, Chairperson and Chief Executive Officer of Northern Star. "BARK has delivered tremendous growth to date, including recently reported strong preliminary financial results for its fourth quarter and fiscal year. We look forward to further supporting the Company as it transitions to the public markets and continues its exciting journey as the world's most dog-centric business."
The formal results of the vote will be included in a Current Report on Form 8-K to be filed by Northern Star with the Securities and Exchange Commission.
About BARK
BARK is the world's most dog-centric company, devoted to making dogs happy with the best products, services and content. BARK's dog-obsessed team applies its unique, data-driven understanding of what makes each dog special to design playstyle-specific toys, wildly satisfying treats and wellness supplements, and dog-first experiences that foster the health and happiness of dogs everywhere. Founded in 2012, BARK loyally serves dogs nationwide with monthly subscription services, BarkBox and Super Chewer; a curated e-commerce experience on BarkShop.com; custom collections via its retail partner network, including Target and Amazon; wellness products that meet your dogs' needs 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 promise to be their voice until every dog reaches its full tail-wagging potential. Sniff around at bark.co for more information.
About Northern Star Acquisition Corp.
Northern Star Acquisition Corp. is a special purpose acquisition company whose management team and Board of Directors are composed of veteran consumer, media, technology, retail and finance industry executives and founders, including Joanna Coles, Chairperson and Chief Executive Officer, and Jonathan Ledecky, President and Chief Operating Officer. Ms. Coles is a creative media and technology executive who in her previous roles as editor of two leading magazines and Chief Content Officer of Hearst Magazines developed an extensive network of relationships at the intersection of technology, fashion and beauty. Ms. Coles currently serves as a special advisor to Cornell Capital, a
Cautionary Statement Regarding Forward Looking Statements
Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity.
These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of BARK's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of BARK. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, market, financial, political and legal conditions. These forward-looking statements are subject to a number of risks and uncertainties including the satisfaction of customary closing conditions; failure to realize the anticipated benefits of the merger; risks relating to the uncertainty of the projected financial information with respect to BARK; the risk that spending on pets may not increase at projected rates; that BARK subscriptions may not increase their spending with BARK; BARK's ability to continue to convert social media followers and contacts into customers; BARK's ability to successfully expand its product lines and channel distribution; competition; the uncertain effects of the COVID-19 pandemic; and those factors discussed in documents of Northern Star filed, or to be filed, with SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Northern Star nor BARK presently know or that Northern Star and BARK currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.
In addition, forward-looking statements reflect Northern Star's and BARK's expectations, plans or forecasts of future events and views as of the date of this press release. Northern Star and BARK anticipate that subsequent events and developments will cause Northern Star's and BARK's assessments to change. However, while Northern Star and BARK may elect to update these forward-looking statements at some point in the future, Northern Star and BARK specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Northern Star's and BARK's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Contacts
For BARK
Investors:
ICR, Inc.
Jean Fontana
Jean.Fontana@icrinc.com
Media:
Garland Harwood
press@barkbox.com
For Northern Star Acquisition Corp.
Jonathan Gasthalter/Nathaniel Garnick/Sam Fisher
Gasthalter & Co.
(212) 257-4170
northernstar@gasthalter.com
View original content:http://www.prnewswire.com/news-releases/northern-star-acquisition-corp-stockholders-approve-proposed-merger-with-bark-301301756.html
SOURCE BARK and Northern Star Acquisition Corp.
FAQ
What is the significance of the merger between Northern Star Acquisition Corp. and Barkbox, Inc.?
When will the merger between Northern Star Acquisition Corp. and Barkbox, Inc. close?
What are the new ticker symbols for Bark after the merger?
What were Bark's reported financial results leading up to the merger?
What challenges could affect the merger's success?
