BARK Announces Receipt of Notice of Non-Compliance with the NYSE Continued Listing Standards
24 Novembre 2023 - 7:00PM
Business Wire
BARK, Inc. (“BARK” or the “Company”) (NYSE: BARK), a leading
global omnichannel dog brand with the mission to make all dogs
happy, announced today that the New York Stock Exchange (the
“NYSE”) issued a notice (the “Notice”) informing the Company that
it is no longer in compliance with its continued listing standards
set forth in Section 802.01C (the “Minimum Stock Price Standard”)
because the average closing price of the Company’s common stock was
less than $1.00 per share over a consecutive 30 trading-day period
ended November 21, 2023.
Under Section 802.01C, the Company has six months following
receipt of the Notice to regain compliance with the listing
standard. Compliance can be achieved if on the last trading day of
any calendar month during the cure period (or the last trading day
of the cure period) the Company has a closing share price of at
least $1.00 and an average closing share price of at least $1.00
over the prior 30 trading-day period ending on the last trading day
of the applicable calendar month or the cure period. The Company
intends to remain listed on the NYSE and is considering all
available options to regain compliance with the NYSE’s continued
listing standards, including, but not limited to, a reverse stock
split, subject to stockholder approval. Section 802.01C provides
for an exception to the six-month cure period if the action
required to cure the price condition requires stockholder approval,
in which case, the action needs to be approved by no later than the
Company’s next annual stockholder’s meeting.
The Notice has no immediate impact on the listing of the
Company’s common stock, which will continue to be listed and traded
on the NYSE during such cure period, subject to the Company’s
compliance with other NYSE continued listing standards.
Furthermore, the Notice is not anticipated to impact the ongoing
business operations of the Company or its reporting requirements
with the U.S. Securities and Exchange Commission.
About BARK
BARK is the world’s most dog-centric company, devoted to making
dogs happy with the best products, services and content. BARK’s
dog-obsessed team applies its unique, data-driven understanding of
what makes each dog special to design playstyle-specific toys,
wildly satisfying treats, great food for your dog’s breed,
effective and easy to use dental care, and dog-first experiences
that foster the health and happiness of dogs everywhere. Founded in
2011, BARK loyally serves dogs nationwide with themed toys and
treats subscriptions, BarkBox and BARK Super Chewer; custom product
collections through its retail partner network, including Target
and Amazon; its high-quality, nutritious meals made for your breed
with BARK Food; and products that meet dogs’ dental needs with BARK
Bright®. At BARK, we want to make dogs as happy as they make us
because dogs and humans are better together. Sniff around at
BARK.co for more information.
Forward Looking Statements
This press release contains “forward-looking statements” for
purposes of the federal securities laws. We intend such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements under the US securities
laws. All statements, other than statements of present or
historical facts, contained in this press release, regarding the
listing of our common stock on the NYSE and expectations, plans and
objectives of management are forward-looking statements.
Forward-looking statements are typically identified by such words
as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,
“estimate,” “will,” “should,” “would” and “could” and other similar
words and expressions. These forward-looking statements involve a
number of risks, uncertainties or other assumptions that may cause
actual results or performance to be materially different from those
expressed or implied by the forward-looking statements, including,
but not limited to: our ability to implement business plans,
forecasts, and other expectations; our ability to finance and
invest in growth initiatives; the ability to get the stockholder
approval to effectuate a reverse stock-split, if necessary; and the
other risks disclosed in the Company's quarterly report on Form
10-Q, copies of which may be obtained by visiting the Company’s
Investor Relations website at https://investors.bark.co/ or the
SEC’s website at www.sec.gov. Undue reliance should not be placed
on the forward-looking statements in this press release, which are
based on information available to the Company on the date hereof.
The Company assumes no obligation to update such statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20231124742094/en/
Investors: Michael Mougias investors@barkbox.com Media: Garland
Harwood press@barkbox.com
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