Dog treats subscription service BarkBox to go public via a $1.6 billion SPAC merger - Business Insider

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Dog treats subscription service BarkBox to go public via a $1.6 billion SPAC merger

BarkBox, a subscription service for pet owners, is going public via a merger with a special acquisition corporation , the company announced Thursday.BarkBox will merge with the blank-check company Northern Star Acquisitions Corp. in a $1.6 billion deal, including debt, according to the announcement.

Once the deal closes, Northern Star Acquisitions Corp. will list under a new ticker, BARK, on the New York Stock Exchange. Since the outbreak of the pandemic, quarantining Americans have turned to furry friends for comfort. Pet adoptions and related spending has soared. BarkBox, a subscription service for dog treats and toys, will go public via a merger with a blank check company,. The deal is valued at $1.6 billion, including debts, according to the announcement.

When the deal closes, Northern Star Acquisitions Corp. — the blank-check company merging with BarkBox — expects up to $454 million in gross cash proceeds. BarkBox will list on the New York Stock exchange with the ticker "BARK." The company projects that it will make $365 million in revenue by the end of the fiscal year.

 

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