Rival cash buyout proposals put BARK (NYSE: BARK) shares in play

Rhea-AI Filing Summary

BARK, Inc. is updating investors on its special committee’s review of strategic alternatives, including two preliminary all-cash buyout proposals. One group led by Great Dane Ventures has indicated interest at $0.90 per share, while the GNK/Marcus Lemonis group has indicated interest at $1.10 per share.

A special committee of independent, disinterested directors is evaluating all proposals alongside BARK’s standalone value, with Moelis & Company as financial advisor and Sidley Austin as legal counsel. Any bidder seeking non-public information must sign a confidentiality agreement with a customary standstill, and the committee emphasized it will take the time needed to run an orderly, value-focused process.

The company cautions there is no assurance any definitive offer, agreement, or transaction will result from these preliminary, non-binding proposals and does not commit to further updates beyond legal requirements.

Insights

M&A and special situations analyst

Competing preliminary cash bids put BARK in play, but outcomes remain highly uncertain.

The disclosure highlights a formal strategic review, with a special committee assessing acquisition interest versus BARK’s standalone value. Two indicative, non-binding cash proposals are referenced, at $0.90 and $1.10 per share, from separate investor groups.

The process is structured with independent advisors, confidentiality agreements, and standstill provisions, which can help protect operations and information while options are evaluated. However, both proposals are labeled preliminary and non-binding, and the company explicitly notes there is no assurance of a definitive offer or completed transaction.

For now this filing mainly signals that BARK is formally "in play" and that multiple parties are engaged with the special committee. The eventual impact on shareholders will depend on whether any firm bids emerge and the committee’s assessment of those bids versus the company’s standalone prospects.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date Earliest Event Reported):

February 13, 2026

BARK, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-39691

85-1872418

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

20 Jay Street, Suite 940 Brooklyn, NY

11201 (Zip Code)

(Address of Principal Executive Offices)

(855) 501-2275

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e- 4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001

BARK

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On February 13, 2026, BARK, Inc. (the “Company”) issued a press release regarding an update to the special committee of independent and disinterested members of the Company’s Board of Directors’ process of reviewing all proposals, including the previously disclosed preliminary non-binding indicative proposal letters submitted to the Company’s Board of Directors by each of Great Dane Ventures, LLC and GNK Holdings LLC together with Marcus Lemonis, as well as evaluating the Company’s standalone value. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01    Financial Statements and Exhibits

(d) Exhibits

Exhibit No.						Description
99.1						Press release dated as of February 13, 2026
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BARK, Inc.
By:			/s/ Allison Koehler
			Name: Allison Koehler
			Title: Chief Legal Officer

Date: February 13, 2026

The Special Committee of BARK Provides Update on Process

NEW YORK, February 13, 2026 — BARK, Inc. (NYSE: BARK) (“BARK” or the “Company”), a leading global omnichannel dog brand with a mission to make all dogs happy, today announced that the special committee (the “Special Committee”) of the Company’s Board of Directors has provided clear guidance to parties interested in acquiring BARK.

The Special Committee, consisting of independent and disinterested directors, is focused on maximizing value for all BARK stockholders, and is reviewing all proposals as well as evaluating the Company’s standalone value with the assistance of its independent financial and legal advisors. The Special Committee is committed to managing an orderly process that does not disrupt or harm the business and that protects the value of the Company’s proprietary information.

Regarding its process, the Special Committee noted:

-It is evaluating all proposals in totality, including the conditionality of any potential transaction and availability of committed debt and equity financing;

-In order to receive any non-public diligence information, any party will be required to enter into confidentiality agreements with market-standard provisions, including a customary standstill; and

-The Special Committee will take the appropriate time to properly assess all proposals and strategic alternatives and to conduct a thorough and deliberate process focused on maximizing value for all BARK stockholders.

There can be no assurance that any definitive offer will be made, that any definitive agreement will be executed relating to the proposals or that any proposed transaction or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to the proposals received or any other transaction or proposal, except as required under applicable law.

Preliminary, Non-Binding Proposals

As previously disclosed, on January 9, 2026, the Company received a preliminary non-binding indicative proposal from Great Dane Ventures, LLC (“Great Dane”), comprised of a group of the Company’s current stockholders, including Matt Meeker, the Company’s Chief Executive Officer and Executive Chairman of the Board, RRE Ventures, Resolute Ventures, Founders Circle Capital and Ironbound Partners Fund (collectively, the “Great Dane Group”). The Great Dane Group letter proposes that Great Dane would acquire all of the outstanding shares of the Company’s common stock not already beneficially owned by the Great Dane Group or their affiliates, in an all-cash transaction, for $0.90 per share.

On January 14, 2026, the Company received a preliminary non-binding indicative proposal letter from GNK Holdings LLC and Marcus Lemonis (collectively, the “GNK/Lemonis Group”). The GNK/Lemonis Group letter proposes that the GNK/Lemonis Group would acquire all of the outstanding shares of the Company’s common stock not already beneficially owned by the GNK/Lemonis Group, in an all-cash transaction, for $1.10 per share.

The Special Committee has requested meetings with the principals of both the Great Dane Group and GNK / Lemonis Group.

Moelis & Company LLC is acting as financial advisor and Sidley Austin LLP is serving as legal advisor to the Special Committee.

About BARK
BARK is the world’s most dog-centric company, devoted to making all dogs happy with the best products, food, services, and content. BARK’s dog-obsessed team leverages its unique, data-driven understanding of what makes each dog special to design playstyle-specific toys, wildly satisfying treats, dog-first experiences that foster the health and happiness of dogs everywhere, and more. Founded in 2011, BARK loyally serves millions of dogs nationwide with BarkBox and Super Chewer, its themed toys and treats subscriptions; custom product collections through its retail partner network, including Target, Chewy, and Amazon; BARK in the Belly, a premium dog food and consumables line that donates 100% of food profits to fight canine hunger; and BARK Air, the first air travel experience designed specifically for dogs first. At BARK, we want to make dogs as happy as they make us because dogs and humans are better together. Sniff around at bark.co for more information.

Forward-Looking Statements
This press release contains forward-looking statements that are based on the Company’s current expectations, forecasts and assumptions and involve risks and uncertainties. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expect,” “plan,” "anticipate,” “believe,” “estimate,” “predict,” “intend,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology. Actual results and outcomes could differ materially from any results or outcomes made or implied in such forward-looking statements. Important factors that could cause or contribute to such differences include, but are not limited to, risks and information included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2025, filed with the SEC on November 10, 2025, copies of which may be obtained by visiting the Company’s Investor Relations website at https://investors.bark.co/ or the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the Company on the date hereof. The Company assumes no obligation to update such statements except as required by law.

Investors:
Michael Mougias
investors@barkbox.com

Media:
Garland Harwood
press@barkbox.com

Jim Golden / Ed Hammond / Quinn Conway

Collected Strategies

BARK-CS@collectedstrategies.com

FAQ

What is BARK (BARK) announcing in this 8-K filing?

BARK is announcing that its special committee of independent directors is formally reviewing acquisition proposals and the company’s standalone value. The committee has set a structured process to evaluate all proposals with independent financial and legal advisors and emphasizes its focus on maximizing value for all stockholders.

What preliminary buyout proposals has BARK (BARK) received?

BARK received a preliminary, non-binding proposal from Great Dane Ventures and affiliated stockholders at $0.90 per share, and a separate preliminary, non-binding proposal from GNK Holdings and Marcus Lemonis at $1.10 per share. Both proposals are all-cash offers for shares not already beneficially owned by the respective groups.

Who is overseeing the strategic review process at BARK (BARK)?

A special committee of BARK’s Board, composed of independent and disinterested directors, is overseeing the process. The committee is advised by Moelis & Company LLC as financial advisor and Sidley Austin LLP as legal counsel, and is tasked with evaluating all proposals and BARK’s standalone value.

Are the BARK (BARK) buyout proposals binding or guaranteed to close?

No. Both proposals are described as preliminary, non-binding, and indicative. BARK explicitly states there is no assurance that any definitive offer will be made, that any definitive agreement will be executed, or that any transaction will be approved or completed as a result of these expressions of interest.

How is BARK (BARK) protecting its business during the sale process?

The special committee says it is committed to running an orderly process that does not disrupt or harm the business. Any interested party must sign a confidentiality agreement with market-standard terms, including a customary standstill, before receiving non-public due diligence information from the company.

Will BARK (BARK) provide further updates on the acquisition proposals?

BARK states it does not undertake any obligation to provide additional updates on the proposals or other potential transactions. The company indicates it will only provide further information to the extent required under applicable law, rather than through ongoing voluntary disclosures about the process.

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 11.3 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.9 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 15.3 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 27.9 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 15.9 KB