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NEW YORK, May 11, 2021 /PRNewswire/ Northern Star Acquisition Corp. ( Northern Star ) (NYSE: STIC), a publicly traded special purpose acquisition company, today announced that its Annual Meeting of Stockholders (the Annual Meeting ) to consider the previously announced merger agreement with Barkbox, Inc. ( BARK or the Company ), a leading global omni-channel brand for dogs, has been set for May 28, 2021. Stockholders of record as of April 5, 2021 (the Record Date ) are eligible to vote at the Annual Meeting.
Northern Star also announced that the U.S. Securities and Exchange Commission has declared effective its registration statement on Form S-4 (as amended, the Registration Statement ), which includes a definitive proxy statement/prospectus to be used in connection with the Annual Meeting. The Registration Statement is available on BARK s investor website at investors.bark.co and www.sec.gov, and is being mailed to stockholders of rec
The soon-to-be public dog care subscription service
Barkbox plans to merge with the special purpose acquisition company (SPAC)
Northern Star Acquisition (NYSE:STIC) in the second quarter of 2021. The combined company will trade under the ticker BARK. While it s smaller than big-box competitors
Chewy (NYSE:CHWY), Barkbox is poised for impressive growth and customer retention within its unique niche.
Image source: Getty Images.
A different kind of subscription business
If you re usually wary of subscription-box businesses because of their typically low margins and frequent cancellations, I don t blame you. However, Barkbox has proven that its story is different from the norm. It has positioned itself perfectly in the fast-growing pet care market with a unique value proposition based on high-quality personalized product bundles for customers furry friends.
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A Fool since 2010, and a graduate from UC San Diego with a B.A. in Economics, Sean specializes in the healthcare sector and investment planning. You ll often find him writing about Obamacare, marijuana, drug and device development, Social Security, taxes, retirement issues and general macroeconomic topics of interest. Follow @TMFUltraLong
For more than a year, investors have been privy to one of the strongest bounce-back rallies from a bear-market bottom in history. All three indexes have rocketed to new all-time highs, with the tech-heavy
Nasdaq Composite leading the charge. At its best, the Nasdaq more than doubled in just 11 months time.
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What happened
Shares of
Northern Star Acquisition (NYSE:STIC) dipped 11% in March, according to data from S&P Global Market Intelligence. There wasn t much in the way of company-specific news for the special purpose acquisition company (SPAC), but its stock pulled back amid sell-offs for growth-dependent tech stocks that rocked the market last month.
Northern Star Acquisition is planning to merge with BarkBox, a pet-focused e-commerce company, by the end of this quarter. By all indications, the merger is still on track to be completed. However, investors appear to have become more cautious about the combined company s prospects as valuations for tech stocks took a hit last month.