GNK Holdings Calls for Accountability After BARK Share Price Drops Below Previous Acquisition Offer
GNK Holdings LLC has issued an open letter to shareholders of BARK, Inc. (NYSE: BARK), expressing frustration over the company's declining stock price following its rejection of a $1.10 per-share cash acquisition proposal in early 2026. Adjusted for BARK’s subsequent reverse stock split, GNK’s offer equated to $22.00 per share. As of September 14, 2026, the company's shares closed at $9.19—58% below the adjusted proposal price. GNK argues that its all-cash bid was a value-creating opportunity and criticizes BARK’s leadership for failing to deliver on their promise of long-term shareholder value through standalone operations. The firm remains confident in BARK's brand potential but calls for greater accountability, transparency, and alignment between the board, management, and shareholders. The letter highlights concerns over corporate governance and stewardship at BARK and signals GNK’s intent to explore further actions on behalf of shareholders.
Topics: reverse stock split shareholder value stock price decline takeover