Northern Star Acquisition Corp (NYSE:STIC) announced that its shareholders have approved its combination with the leading global brand for dogs BarkBox at a special meeting earlier today.
The parties expect to close the transaction on June 1, 2021. The shares and warrants of the combined company, which will be renamed “The Original BARK Company”, are set to start trading on the NYSE on June 2, 2021 under the new ticker symbols, “BARK” and “BARK WS”, respectively.
Northern Star did not release redemption figures in its press release, but it opened this morning ahead of the vote above its trust value at $10.06, so redemptions were likely low.
Northern Star originally announced it had entered into a definitive agreement with BarkBox back in December in a deal valued at $1.64 billion. New York City-based BarkBox provides customized product packages for dogs through monthly subscriptions and a curated ecommerce storefront as well as through brick-and-mortar retailers like Target.
ADVISORS
- Citigroup is acting as sole financial and capital markets advisor to Northern Star.
- Citigroup acted as sole placement agent to Northern Star in connection with the PIPE Offering.
- Canaccord Genuity is acting as financial advisor to BARK.
- Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP and Skadden, Arps, Slate, Meagher & Flom LLP are acting as legal counsel to BARK.
- Graubard Miller is acting as legal counsel to Northern Star.
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...
At the SPAC of Dawn As April’s sleepy month for SPAC news continues, there is only one special meeting on the docket to consider a SPAC deal approval, that being today’s vote on Pegasus Digital Mobility‘s (NYSE:PGSS) combination with equipment manufacturer Schmid. Three more SPACs are facing extension votes this week, including Pyrophyte (NYSE:PHYT), whose...