Money Makers Mentor

Barkbox Announces IPO Through SPAC Merger

Barkbox, Inc. announced on Dec. 17 that it plans to go public through a merger with Northern Star Acquisition Corp. The dog product brand entered into a definitive merger agreement with the special purpose acquisition company (SPAC) instead of going public through a traditional IPO.

Transaction Details

Per the transaction, BARK will become a publicly listed company on the New York Stock Exchange (NYSE). The newly combined company will trade with the new symbol BARK. The transaction values the company at an enterprise value of around $1.6 billion and is expected to provide $454 million of gross cash proceeds. The gross cash proceeds includes an upsized fully-committed $200 million private placement of common stock at $10 per share.

All BARK shareholders and management will retai…

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