Barkbox to go public through merger with SPAC Northern Star Acquisition, as ticker changes to ‘BARK’

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Barkbox Inc. said Thursday it will go public after entering into a merger agreement with special purpose acquisition company Northern Star Acquisition Corp. , in a deal that values the company at an enterprise value of $1.6 billion. After the merger is completed, the dog toys, treats and wellness supplements company will list on the NYSE under the new ticker symbol “BARK.” The deal is expected to provide Barkbox with up to $454 million of cash proceeds, which the company plans to invest in accelerating new and existing product lines and for international expansion. Revenue is projected to be $365 million ford the fiscal year ended March 31. The deal was announced at a time of relatively strong investor demand for initial public offerings, as the Renaissance IPO ETF has soared 109.9% year to date while the S&P 500 has gained 14.6%.
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