Northern Star Acquisition set a May 28 shareholder meeting for a vote on its proposed merger with Barkbox. The proxy and registration statement has been declared effective by the SEC.
The combined company would have an enterprise value of approximately $1.6 billion, including debt. Barkbox would list on the NYSE under BARK.
The company’s products include a monthly subscription service for dog treats and toys, as well as a range of pet products sold nationally at retail stores.
The combined company expects to receive up to $454 million in cash at closing, assuming no redemptions by Northern Star’s stockholders. The amount includes an upsized fully-committed $200 million PIPE led by Fidelity Management & Research Company, Senator Investment Group, the Federated Hermes Kaufmann Funds, and affiliates of the Santo Domingo Group, among other institutional investors. All Barkbox shareholders and management would roll over 100 percent of their equity in the combined company. Read more.
