Bark, Inc. Material Event - What Happened

Hey there! Let's break down what just happened with Bark, Inc. (you know, the company behind BarkBox and all those fun dog goodies) in a way that makes sense, without all the confusing business talk.

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1. What happened? (The Big News, Plain and Simple)

Basically, the New York Stock Exchange (NYSE) has decided to stop trading and delist Bark, Inc.'s "warrants" (which are like special coupons that let you buy the company's stock at a set price later). This decision was made because these warrants have been trading at an "abnormally low selling price." It's important to know that this only affects the warrants, not the regular Bark, Inc. common stock, which will continue to trade as usual on the NYSE.

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2. When did it happen? (The Timeline)

This news officially broke on December 15, 2025, when Bark, Inc. received the notice from the NYSE. Trading in the warrants was suspended immediately.

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3. Why did it happen? (The Story Behind the Story)

So, why did the NYSE decide to delist these warrants? Well, Bark, Inc.'s warrants (which trade under the symbol "BARK-WS") give holders the right to buy one share of Bark's common stock for $11.50. The NYSE noticed that these warrants were trading at an "abnormally low selling price."

Think of it this way: if you have a coupon to buy a $10 item for $11.50, that coupon isn't very valuable, right? It's the same idea here. If Bark's regular stock price is significantly below $11.50, then the warrants (the right to buy at $11.50) become almost worthless because no one would pay $11.50 for a stock that's trading for less than that on the open market. The "abnormally low selling price" suggests that the market doesn't expect Bark's stock to reach or exceed $11.50 anytime soon, making the warrants unattractive and essentially without value.

Bark, Inc. has also stated they do not plan to appeal this decision, suggesting they agree with the NYSE's assessment of the warrants' value.

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4. Why does this matter? (The "So What?")

This isn't just some boring corporate announcement; it actually has some real implications.

• For Warrant Holders: If you owned these specific Bark, Inc. warrants, they are now essentially worthless and can no longer be traded. This means a loss for those investors.
• For the Company's Image: While it doesn't directly impact Bark's operations or its common stock, the delisting of a financial instrument due to "abnormally low selling price" can be seen as a negative signal about investor confidence in the company's future stock price growth. It suggests the market doesn't believe the stock will reach the $11.50 mark where the warrants would become profitable.
• For Common Stock Holders: The good news is that your regular Bark, Inc. stock (ticker "BARK") is unaffected by this delisting and will continue to trade on the NYSE. However, the underlying reason for the warrants' low price (i.e., the common stock trading well below $11.50) is still a factor to consider.

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5. Who is affected? (Who Cares About This?)

• Dog Owners/Customers: You're likely not affected at all by this news. BarkBox subscriptions, products, and services should continue as normal.
• Employees: This event is unlikely to have any direct impact on employees' day-to-day jobs or the company's operations.
• Investors/Shareholders:
  • Warrant Holders (BARK-WS): Directly and negatively affected, as their warrants are now suspended from trading and will be delisted.
  • Common Stock Holders (BARK): Not directly affected by the delisting itself, as their shares continue to trade. However, the reason for the warrants' delisting (low stock price relative to the warrant exercise price) is relevant to their investment.
• Competitors: Other pet supply companies will likely note this, but it's unlikely to shake up the market significantly.

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6. What happens next? (The Road Ahead)

So, what should we expect to see in the coming weeks and months?

• Warrant Delisting Finalization: The NYSE will formally apply to the Securities and Exchange Commission (SEC) to complete the delisting of the warrants. Since Bark, Inc. isn't appealing, this process should move forward without delay.
• Annual Meeting: Separately, Bark, Inc. announced that its 2025 Annual Meeting of Stockholders is expected to take place on March 25, 2026.
• Stockholder Proposals: If you're a stockholder and want to submit a proposal for the Annual Meeting, you need to send it to Bark, Inc. by December 29, 2025. This deadline is earlier than usual because the meeting is being held more than 30 days after the anniversary of last year's meeting.

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7. What should investors/traders know? (Your Practical Takeaways)

If you're someone who trades stocks or just keeps an eye on your investments, here are a few things to consider:

• Warrants are Gone: If you held Bark, Inc. warrants (BARK-WS), they are no longer tradable and will be delisted.
• Common Stock Continues: Your regular Bark, Inc. common stock (BARK) is still trading on the NYSE.
• Underlying Performance: The delisting of warrants due to "abnormally low selling price" is a symptom of the common stock trading significantly below the $11.50 warrant exercise price. This indicates that the market currently doesn't see the stock reaching that level in the near future.
• Long-Term View: For common stock investors, it's important to focus on Bark, Inc.'s core business performance, financial health, and future growth strategies, rather than getting too caught up in the warrants' delisting.
• Do Your Own Homework: This is just a summary to help you understand what happened. Always do your own research and consider your own financial situation before making any investment decisions.